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𝗢𝗶𝗹 𝗮𝗻𝗱 𝗴𝗮𝘀 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝘀𝗲𝗲𝘀 𝟮𝟬𝟮𝟯 𝗰𝗼𝗻𝘁𝗿𝗮𝗰𝘁 𝘃𝗼𝗹𝘂𝗺𝗲 𝗳𝗮𝗹𝗹, 𝘃𝗮𝗹𝘂𝗲 𝗿𝗲𝗺𝗮𝗶𝗻𝘀 𝘀𝘁𝗮𝗯𝗹𝗲 Despite the decline in volume, the overall worth of the contracts held steady. Significant agreements were secured for prominent ventures such as the North Field South liquefied natural gas (LNG) project in Qatar, Golden Pass LNG in the US, Hail and Ghasha field in the United Arab Emirates (UAE), Agopogo FPSO in Angola, and the expansion of the Amiral petrochemicals facility in Saudi Arabia, all amidst demanding market conditions, as reported by GlobalData, the parent company of Offshore Technology. A new report titled Oil and Gas Industry Annual Contracts Analytics by Region, Sector, Planned and Awarded Contracts and Top Contractors reveals that the total disclosed contract value was $187.48bn in 2023, only 1.2% lower than it was in 2022. Pritam Kad, oil and gas analyst at GlobalData, said: “This resilience is attributed to high-value contracts from notable contractors such as Technip Energies and Consolidated Contractors that secured a $10bn EPCC [engineering, procurement, construction and commissioning] contract for QatarEnergy’s North Field South LNG project. Tecnimont’s $8.7bn contract; Saipem and NPCC Consortiums’ $8.2bn EPC [engineering, procurement and construction] contracts for the Hail and Ghasha Development Project in the UAE; Yinson Holdings’ $5.3bn Agogo FPSO [floating production storage and offloading] charter and maintenance; and Hyundai’s $5bn EPC work for the Amiral petrochemicals facility expansion in Saudi Arabia.” Operations and maintenance represented 51% of total contracts in 2023, with procurement scope at 25%, and multiple scopes including construction, design and engineering, installation, procurement and asset retirement representing 12% of the contracts. Read More: https://lnkd.in/gYdp_gN2 #oilandgasnews #news #worldnews #marketnews

Middle East Oil & Gas Pipeline Market is expected to grow due to growing technological advancements in the oil & gas sector and increasing demand for crude oil and natural gas during the forecast period. According to TechSci Research report, “Middle East Oil & Gas Pipeline Market - By Country, Competition Forecast & Opportunities, 2018-2028,” the Middle East Oil & Gas Pipeline Market is expected to register robust growth during the forecast period, 2024-2028. The market is anticipated to be driven by elements like rising investments, expanding gas infrastructure development, and expanding desalination plant capacity over the forecast period. Download Free Sample Report: https://lnkd.in/gdGK8wqt Customers can also request for 10% free customization on this report. Major market players in the Middle East Oil & Gas Pipeline Market are: - · Arabian Pipes Company · Rezayat Group · EEW Group · Sumitomo Corporation · Vallourec SA · Abu Dhabi Metal Pipes & Profiles Industries Complex LLC · Jindal SAW Ltd · ArcelorMittal

Aramco awards $7.7 billion contracts to add 1.5 bscfd of raw gas to Fadhili Gas Plant Aramco, one of the world’s leading integrated energy and chemicals companies, today awarded engineering, procurement and construction (EPC) contracts worth $7.7 billion for a major expansion of its Fadhili Gas Plant in the Eastern Province of Saudi Arabia. The project is expected to increase the plant’s processing capacity from 2.5 to up to 4 billion standard cubic feet per day (bscfd). This additional 1.5 bscfd of processing capacity is expected to contribute to the company’s strategy to raise gas production by more than 60% by 2030, compared to 2021 levels. The Fadhili Gas Plant expansion, which is expected to be completed by November 2027, is also expected to add an additional 2,300 metric tons per day to sulphur production. For expanding your business in KSA, contact us today at partner@novarabia.com. Source: https://lnkd.in/g9PGsh56 #Aramco #FadhiliGasPlant #SaudiArabia #EPCContracts #Energy #Chemicals #GasProduction #SulphurProduction #ExpansionProject #Investment #BusinessOpportunity #KSA #EasternProvince #Infrastructure #OilandGas #Engineering #Procurement #Construction #EconomicDevelopment #SaudiVision2030 

Saudi Arabia’s aramco, one of the world’s leading integrated energy and chemicals companies, has awarded engineering, procurement, and construction (EPC) contracts totalling $7.7 billion for the expansion of its Fadhili Gas Plant in the Eastern Province. This significant project aims to boost the plant’s processing capacity by up to 1.5 billion standard cubic feet per day (bscfd), taking it from 2.5 to 4 bscfd. Wail Al-Jaafari, Aramco Executive Vice President of Technical Services, said: “The award of these contracts reflects Aramco’s goal to increase supplies of natural gas, help efforts to reduce greenhouse gas emissions, and free up more crude oil for value-added refining and export. Together with leading international companies, we are advancing our goal to increase gas production. The expansion also supports our ambitions to develop a lower-carbon hydrogen business, while associated liquids from gas are an important feedstock for the petrochemical industry.” Nabeel A. Al Mansour (pictured) is Executive Vice President, General Counsel & Corporate Secretary at Aramco. Read the full article >> https://lnkd.in/dDA3YH5z #LegalcommunityMENA #gas

#oilandgasindustry #contracts The oil and gas industry saw a decline of 22% in disclosed contract volume in 2023, down to 5,915 from 7,550 in 2022. A new report titled Oil and Gas Industry Annual Contracts Analytics by Region, Sector, Planned and Awarded Contracts and Top Contractors reveals that the total disclosed contract value was $187.48bn in 2023, only 1.2% lower than it was in 2022. Despite the decrease in volume, the total value of the contracts remained stable. Large contracts were signed for major projects such as North Field South liquefied natural gas (LNG) in Qatar; Golden Pass LNG in the US; Hail and Ghasha field in the United Arab Emirates (UAE); Agopogo FPSO in Angola; and the expansion of the Amiral petrochemicals facility in Saudi Arabia amid challenging market conditions, according to GlobalData, Offshore Technology’s parent company. Operations and maintenance represented 51% of total contracts in 2023, with procurement scope at 25%, and multiple scopes including construction, design and engineering, installation, procurement and asset retirement representing 12% of the contracts. The oil and gas industry’s ability to secure high-value contracts for major projects underscores its enduring strength and adaptability in navigating turbulent times. Source: #offshoretechnology 👇👇👇 https://lnkd.in/dvsCv7cX #globalenergy #oilgas

Global oil and gas contract value surged 47% in Q2 2024, reaching US$54.91bn from US$37.3bn in Q1, reveals GlobalData. This increase was driven by major deals such as Petrobras' US$8.15bn FPSO contract with Seatrium and Saipem's US$850mn pipeline work in Angola. Despite a slight drop in contract volume, operation & maintenance contracts dominated, comprising 49% of the total, followed by procurement at 29%. Read more: https://zurl.co/FHyX #OilAndGas #ContractGrowth #Petrobras #EnergyProjects #GlobalData

ADNOC takes positive FID on the Ruwais LNG project   ADNOC has taken positive final #investment decision (FID) on its Ruwais LNG project and awarded the project's #engineering, #procurement and #construction (EPC) contract (issued a Full Notice to Proceed - FNTP) valued at approximately $5.5 billion (AED20.2 billion). According to the Global LNG Database®, Ruwais LNG project in Al Ruwais Industrial City, #AbuDhabi is set to become one of the lowest-carbon intensity LNG plants in the world as it will use #electric-driven motors instead of conventional #gasturbines.   The project will significantly enhance ADNOC's LNG production capacity aligning with global #naturalgas demand and the shift towards #decarbonization and #sustainableenergy. ADNOC had already issued a Limited Notice to Proceed (LNTP) for early EPC activities to a Technip energies-led JV with JGC and #UAE’s National Petroleum Construction Company (NPCC) for the project.   ADNOC’s 9.6 MMT/Y new LNG export project’s #FEED work was undertaking by McDermott International, Ltd. Perfect information about the world’s LNG import/export projects such as “Ruwais LNG project” is available on the Global LNG Database®. Learn more at: https://lnkd.in/dSG73cW To see more posts like this in your feed and stay up-to-date with what is going on in the LNG world, follow Global LNG Info on LinkedIn at https://lnkd.in/e442DdDn #constructionprojects #lngindustry #lngshipping #energy #investment #energyindustry #energymarkets #energyprojects #constructionjobs #constructionindustry #infrastructure #database #naturalgasindustry #gasprices #sales #work #developer #middleeast #middleeastjobs #middleeastenergy #uaenews #uaejobsearch #uaejobs #stage #project #gasindustry #gasprocessing #globallngdatabase

Aramco, one of the world’s leading integrated energy and chemicals companies, today awarded engineering, procurement and construction (EPC) contracts worth $7.7 billion for a major expansion of its Fadhili Gas Plant in the Eastern Province of Saudi Arabia. The project is expected to increase the plant’s processing capacity from 2.5 to up to 4 billion standard cubic feet per day (bscfd). This additional 1.5 bscfd of processing capacity is expected to contribute to the company’s strategy to raise gas production by more than 60% by 2030, compared to 2021 levels. The Fadhili Gas Plant expansion, which is expected to be completed by November 2027, is also expected to add an additional 2,300 metric tons per day to sulphur production. Wail Al Jaafari, Aramco Executive Vice President of Technical Services, said: “The award of these contracts reflects Aramco’s goal to increase supplies of natural gas, help efforts to reduce greenhouse gas emissions, and free up more crude oil for value-added refining and export. Together with leading international companies, we are advancing our goal to increase gas production. The expansion also supports our ambitions to develop a lower-carbon hydrogen business, while associated liquids from gas are an important feedstock for the petrochemical industry.” Aramco awarded EPC contracts for the Fadhili Gas Plant increment project to SAMSUNG Engineering Company, GS Engineering & Construction Corporation, and Nesma & Partner

Oil and gas industry sees 2023 contract volume fall, value remains stable The oil and gas industry saw a decline of 22% in disclosed contract volume in 2023, down to 5,915 from 7,550 in 2022. Despite the decrease in volume, the total value of the contracts remained stable. Large contracts were signed for major projects such as North Field South liquefied natural gas (LNG) in Qatar; Golden Pass LNG in the US; Hail and Ghasha field in the United Arab Emirates (UAE); Agopogo FPSO in Angola; and the expansion of the Amiral petrochemicals facility in Saudi Arabia amid challenging market conditions, according to GlobalData, Offshore Technology’s parent company. A new report titled Oil and Gas Industry Annual Contracts Analytics by Region, Sector, Planned and Awarded Contracts and Top Contractors reveals that the total disclosed contract value was $187.48bn in 2023, only 1.2% lower than it was in 2022.

Saudi Aramco selects Chinese contractor for $12 billion gas project CPECC’s scope includes EPC work for the expansion of three booster stations along with the development of necessary support facilities. Saudi Aramco has chosen China Petroleum Engineering and Construction Company (CPECC) for a key contract involving the expansion of the kingdom's natural gas infrastructure. The state-owned heavyweight is said to have finalised winners for up to 15 engineering, procurement and construction (EPC) packages for the third expansion phase of the multibillion-dollar Master Gas System Network (MGS-3) development. Aramco has issued letters of intent (LoIs) to the following contractors for 16 EPC packages of the MGS-3 project: Package 1 – China Petroleum Engineering & Construction Company (China) Package 2 – Sepco (China) Packages 3 + 12 – Gas Arabian (Saudi Arabia) Packages 4 + 9 – Mapa (Turkey) Packages 6 + 7 – Sinopec Petroleum Services (China) Packages 8 – Larsen & Toubro Energy Hydrocarbon (India) Packages 10 + 14 – Nesma & Partners (Saudi Arabia)/Sicim (Italy) Packages 13 + 15 + 17 – Kalpataru Power Transmission (India) Package 5 – Bin Quraya (Saudi Arabia) Package 11 – Max Streicher (Germany) https://lnkd.in/gUSd5gUr