The number of major energy contracts awarded globally has increased by 15% in the last quarter, according to the Energy Industries Council (EIC).
But the new figure of 132 deals in the period (115 in the fourth quarter of 2013) is still considerably lower than the 212 contract awards made in the first quarter of last year.
According to EIC, a total of 48 major contracts have been awarded in the upstream sector, representing a 36% increase from 33 awards in the previous quarter.
The UK, Oman and the Asia Pacific region have been hotspots of activity, together accounting for 10 engineering, procurement and construction (EPC) contracts across six upstream developments.
The key UK awards include Wartsila’s topside power module commission for the $4 billion Kraken development; OGN’s contract to build the process module for the $820 million Alder Gas and Condensate field; and Allseas decommissioning deal on the $250 million YME Decommissioning project.
Elsewhere BP was awarded three EPC contracts for work on the $16 billion Khazzan and Makarem gas field development in Oman. The contracts were awarded to Petrofac and CCC for the surface facility package; Jacobs for the development of the southern sector of Block 61; and Galfar E&C for the civil works.
A significant front end engineering design (FEED) contract was awarded to Kvaerner for the design of jackets, risers and templates for Statoil’s $17.5 billion Johan Sverdrup development in the Norwegian North Sea.
Indonesia and the US have also been hotspots for FEED activity, with two FEED contracts awarded by BP for its $12 billion Big Dog project offshore Gulf of Mexico, and two FEED contract awards made on the $800 million Ande Ande Lumut and the $1.4 billion Jambaran, Tiung Bru developments in Indonesia.
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