The annual activity of oil and gas contracts is growing

Annual activity on oil and gas contracts increased by 9% in the number of contracts from 5,750 in 2020 to 6,263 in 2021, and disclosed contract value increased by 51% from $ 115.24 billion in 2020 to $ 174.21 billion1 in Table 20. Significant contributions in terms of contract value include the work of the Chiyoda Corp. and Technip Energies $ 12.242 billion EPC joint venture from Qatar Petroleum for an LNG project of more than 32 million tons per year under the North Field East (NFE) project. Qatar, 16 Saudi Aramco contracts A total of $ 10 billion for underground and EPC work to develop the Jafur shale gas field in Saudi Arabia and two contracts of Yinson Holdings subsidiaries with Petrobras on a charter, as well as operation and maintenance services for Integrado Parque das Baleias (IPB) FPSO, which operates in the Northern Campus Basin, off the coast of Brazil.

Most contracts were recorded during the 2nd quarter of 2021, and in terms of disclosed value the 4th quarter of 2021 made the largest contribution during the year.

During 2021, there are 4,021 contracts in the upstream sector, followed by transitional / petrochemical and medium-term contracts with 1,084 and 966 contracts, respectively, during the year.

Most contracts are recorded in Europe with 2,534 contracts in 2021, followed by Asia and North America with 1,348 and 1,147 contracts respectively during the year.

Operation and maintenance (O&M) accounted for 44% of the total number of contracts in 2021, followed by contracts with a procurement volume of 20% and several areas such as construction, design and engineering, installation, operation and maintenance and procurement, – about 17%.

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