Report: Oil and gas contract activity highest in the EMEA region in December 2016

Contract activity in the global oil and gas industry in December 2016 was driven by contracts issued in the midstream sector of the EMEA region, according to a report by GlobalData.

Titled ‘Monthly Oil & Gas Industry Contracts Review – JGC’s Contracts Boost Award Activity in the Midstream Sector of EMEA Region’, the report provides details of the global oil and gas contract activity for the month of December 2016.

The biggest contract awarded during the month was Sonatrach’s $1.05bn engineering, procurement and construction contract to JGC for the testing and operation of inlet boosting separation and compression facilities of the Hassi R’Mel gas processing plant in Algeria.

Maran Gas Maritime’s $589.7m contract to DSME for the construction of a 173,400m³ liquefied natural gas floating storage and regasification unit (LNG-FSRU) was another major contract signed during the month.

In terms of contractors, Hyundai Engineering & Construction was the top contractor, winning contracts worth $6.6bn between January-December 2016, followed by Transocean with contracts worth $4.05bn.

Operation and maintenance contracts accounted for 61% of the awarded contracts in the month, followed by design and engineering contracts, which accounted for 15%.

Saudi Aramco was the top issuer, with contracts totalling $4.6bn in value, followed by Gazprom, which issued $4.11bn-worth contracts.