Q3 2021 oil & gas contracts relatively stable with improved prices and energy demand

Oil and gas contract action in Q3 2021 saw an abatement in the quantity of contracts and an expansion in agreement esteem. A portion of the striking contracts with esteem more noteworthy than $1bn incorporate Consolidated Contractors' $2.3bn contract from Chiyoda Corp and Technip Energies joint endeavor (JV) to set up the key interaction units fundamental for the development of four LNG prepares each with around 8Mtpa limit, bringing about a complete limit of over 32Mtpa as a component of the LNG bundle of the North Field East Project (NFE) in Qatar, Saipem and Saipem Contracting's $1.484bn contract from NNPC for the restoration of Warri and Kaduna treatment facilities in Nigeria, China Energy Construction Gezhouba International Company's $1.09bn contract from Tobago Oil and Gas Energy Group for the LPG stockpiling and transportation project on the west shoreline of Trinidad and Tobago; and Abu Dhabi National Oil Co (ADNOC) a five-year structure arrangements worth up to AED3.67 billion ($1bn) with different EPC organizations for future idea and Front-End Engineering Design (FEED) administrations for significant undertakings across its full worth chain to help its 2030 technique in UAE.

The upstream area detailed 987 contracts during Q3 2021, trailed by the downstream/petrochemical area and halfway area with 242 and 188 contracts, individually, during the quarter.

Europe recorded most of the contracts, with 630 contracts in Q3 2021, trailed by Asia and North America with 306 and 288 contracts, individually during the quarter.

Activity and Maintenance (O&M) addressed 41% of the complete contracts in Q3 2021, trailed by an acquirement scope with 19% and contracts with various degrees like development, plan and designing, establishment, O&M, and obtainment, which represented 16%.

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