Here are the top offshore development contracts in the Persian Gulf region secured in 2022:
QatarEnergy’s North Field Expansion Project
QatarEnergy awarded a major engineering, procurement, construction, and installation (EPCI) contract for the offshore scope of its North Field Expansion Project in Qatar to McDermott, which the US offshore engineering and construction player described as one of the largest single contracts it was awarded in its company history. At the time, McDermott said that the structures would be fabricated in a facility with low-carbon or renewable power as part of its sustainability commitments.
QatarGas’ North Field Production Sustainability Project
The second deal on this list of top picks from 2022 is the one that Saipem secured with Qatargas in October 2022 for the North Field Production Sustainability Offshore Compression Complexes Project – EPC 2. This deal is worth approximately $4.5 billion and the Italian oilfield contractor announced it as the largest single offshore contract by value in the firm’s history. As disclosed at the time, Saipem’s scope of work for this deal encompasses the engineering, procurement, fabrication and installation of two offshore natural gas compression complexes aimed at sustaining the production of the North Field, including two of the largest fixed steel jacket compression platforms ever built, flare platforms, interconnecting bridges, living quarters and interface modules. The North Field is operated by Qatargas and lies off the northeast shore of the Qatar peninsula.
ADNOC’s offshore production boost
ADNOC awarded two contracts totaling more than $3.4 billion in August 2022 in a bid to drive offshore production capacity growth. A few months later, the UAE player handed out three framework agreements valued at $4 billion for integrated drilling fluids services (IDFS) to ADNOC Drilling, SLB, and Halliburton for onshore and offshore fields. In October 2022, ADNOC awarded contracts worth $1.53 billion to ADNOC Drilling to support the expansion of ADNOC’s offshore operations and its objective to responsibly increase production capacity and meet the growing global demand for reliable, lower carbon intensity oil and gas.
Aramco’s Zuluf field contract
UAEs-based offshore engineering and fabrication giant National Petroleum Construction Company (NPCC) was awarded two sizeable offshore contracts worth $2.23 billion from Saudi Aramco for work on its Zuluf expansion project. NPCC said at the time of the award that the contract involves “two packages of the Zuluf marine field,” without further elaborating on the details. “The project is expected to be executed over three years,” it added. NPCC is a key member of Aramco’s coveted long-term agreement (LTA) with a group of international offshore contractors.