Report: Midstream oil and gas contract activity in October concentrated in the Americas
The oil and gas contract activity in the midstream sector was concentrated in the Americas during the month of October, according to a report by GlobalData.
Titled 'Monthly Oil & Gas Industry Contracts Review – LNG Contracts Activity Prominent in the Midstream Sector', the report provides details of the contracts issued and top contractors during the month.
The most notable contract award during the month was Shanghai Honghuas’ $1.8bn services contract to Argo LNG Partners for the construction, installation and debugging works for an offshore LNG platform to be operated in the Gulf of Mexico.
Samsung Heavy Industries’ $213.12m contract to Viken Shipping for the construction of two Suezmax and two Aframax tankers was another major contract.
The top contractor during the period was Hyundai Engineering & Construction, with contracts totalling $5.86bn in value, followed by SK Engineering & Construction, with contracts totalling $4.35bn in value. Gazprom, the top issuer with contracts worth $7.63bn, was followed by Statoil with $5.63bn.
Operation and maintenance contracts accounted for 41% of the awarded contracts, followed by contracts with multiple scopes, such as design and engineering, procurement, and operation and maintenance, which together accounted for 22%.