Join Webinar

Oman Business News

EMEA tops global energy project contract activity in Q1

The Europe, Middle East and Africa (EMEA) region led the contract award activity in the oil and gas sector during the first three months of 2019 with 569 deals, representing around 48 per cent of the total awarded contracts, according to GlobalData, a leading data and analytics company.

Americas region came a distant second with 366 contracts, accounting for 31% of the total awarded contracts, it stated.

The company’s latest report: ‘Quarterly Oil & Gas Industry Contracts Review’ states that the upstream sector reported 73% of the total awarded contracts, with 862 contracts.

The midstream sector recorded 156 contracts, representing 13% of the total awarded contracts, followed by 141 contracts in the downstream sector; representing 12% of the awarded contracts during the quarter.

Operations and maintenance represented 64% of the awarded contracts in Q1 2019, followed by contracts with multiple scopes, such as construction, design and engineering, installation, O&M, and procurement, which accounted for 11%.

One of the high value contracts was National Marine Dredging Company’s $1.36bn contract from Abu Dhabi National Oil Company (ADNOC) for the provision of dredging, land reclamation and marine construction of artificial islands and causeways, as well as to expand existing Al Ghaf island to drill and produce gas from the first phase development of the Ghasha Concession comprising Hail, Ghasha, Dalma, Nasr, and Mubarraz offshore sour gas fields, in Rub al-Khali Basin, Abu Dhabi, UAE.

Other notable contracts during Q1 2019 included Saipem’s two deals worth $1.3 billion from Saudi Arabian Oil Company (Saudi Aramco) for the design, engineering, procurement, construction and installation (EPCI) services and implementation of subsea systems in addition to the laying of pipelines, subsea cables and umbilicals, platform decks and jackets for the development of Berri and Marjan fields in Arabian Gulf, offshore Saudi Arabia.

The other big deals were Petrofac’s lump-sum contract worth around $1 billion from Groupement Isarene for the engineering, procurement, construction and commissioning (EPCC), start-up and performance testing for the Ain Tsila field development project in Algeria; and McDermott International, along with its joint venture partners Chiyoda International’s mega contract in excess of $1 billion from Golden Pass Products for the EPCC of three 5.2 million ton per annum (mtpa) Liquefied Natural Gas (LNG) trains in Sabine Pass, Texas, US.
  • Europe
  • Middle East
  • Africa
  • Oil and Gas Sector
  • Awarded Contracts
  • Global Data
JSRS Banner
JSRS Banner
POST A COMMENT