Report: Highest oil and gas contract activity recorded in EMEA region in July
Global oil and gas contract activity in July was driven by major contracts awarded in the EMEA region, according to a report by GlobalData.
Titled ‘Monthly Oil & Gas Industry Contracts Review – Contract Award Activity Prominent in EMEA Region’, the report provides details of the global oil and gas contract activity for July.
The biggest contract recorded during the month was Belayim Petroleum Company’s (Petrobel) $900m engineering, procurement, construction and installation (EPCI) contract to Saipem for work on the Zohr field development project in Egypt.
Royal Boskalis Westminster and Van Oord joint ventures’ $268m contract for providing rock placement services for the Nord Stream 2 gas pipeline project between Russia and Germany was the second biggest contract announced during the month.
With contracts worth $11.97bn, Hyundai Engineering & Construction was the top contractor for the month, while Sibur Holding was the top issuer with contracts worth $4.38bn.
Operations and maintenance (O&M) contracts constituted 68% of the awarded contracts, followed by contracts with multiple scopes, which accounted for 13%.