Transocean and Shell signed one of the major contracts in the oil and gas sector in the third quarter of 2017, according to a report by GlobalData.
Titled ‘Monthly Oil & Gas Industry Contracts Review – Transocean and Sinohydro’s Contracts Prominent in Upstream and Downstream Sectors’, the report details prominent contracts signed in the upstream and downstream sectors during the third quarter.
Shell will use Transocean’s ultra-deepwater drillship, Deepwater Pontus, for performing drilling operations in the US Gulf of Mexico for a period of ten years, under the contract.
The second major contract signed during the quarter was Sinohydro Corporation’s $2bn deal with Soukhna Refinery and Petrochemicals to build a 155,000 barrels-a-day oil refinery project in Egypt.
Samsung Heavy Industries was the top contractor during the quarter, with $9.59bn worth of contracts, while Coral FLNG was the top issuer with contracts worth $6.32bn.
The report further states that 65% of the contracts signed during the quarter were related to operations and maintenance (O&M), while contracts with multiple scope, including construction, design and engineering, installation, O&M, and procurement accounted for 17%.
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By GlobalData
