Report: Oil and gas contract activity concentrated in the EMEA region in September
The majority of contracts issued in the oil and gas industry in September were concentrated on the midstream sector in the EMEA region, according to a report by GlobalData.
Titled 'Monthly Oil & Gas Industry Contracts Review – Midstream Sector Prevail Contracts Activity in the EMEA Region' the report provides details of major contracts awarded during the month of September in the oil and gas industry.
Out of the total contracts, approximately 35% were related to operations and maintenance whereas 29% are related to multiple scopes such as design and engineering, procurement, operations and maintenance, and construction and installation.
The biggest contract awarded during the month was the $674 million pipe-coating services contract to Wasco Coatings for the Nord Stream 2 pipeline project that connects Russia and Germany.
Other big contracts included a $600 million construction contract to Hyundai Heavy Industries for 12 oil tankers, and a $500 million construction contract to Yantai Jereh Oilfield Services for the Aboadze–Tema pipeline in Ghana.
The biggest contractors between October 2015 and September 2016 were Hyundai Engineering & Construction with contracts totalling $5.86 billion in value, followed by SK Engineering & Construction with $4.35 billion-worth contracts.
Gazprom was the top issuer, awarding contracts worth $8.17 billion, followed by Statoil with contracts worth $5.63 billion.