offshore
Oil and Gas and Petrochemical market is booming. On the first quarter 2018, we have seen nearly as much business opportunities awarded than in the entire year 2017. This market upturn is led by the national oil companies (NOCs) and the Independent companies representing 96% of the projects sanctioned on Q1 2018 while the international oil companies (IOCs) nearly disappeared at 6%.
Oil & Gas and Petrochemical market has grown up by 30% in 2017 in respect with the number of projects sanctioned for execution with EPC contracts. This number confirms our last year forecast and gives credit to our estimation of 20% to 35% growth for 2018. This market upturn is driven by a market shift from the IOCs to the NOCs and Independent companies, representing both nearly 80% of the capital expenditure as operator on the next five years. As a results the projects get smaller and run on fast-track requiring more agility from the sales organizations for detection and capture.
Trace Market Shift from IOCs to NOCs & Independents In a Oil & Gas and Petrochemical market shifting from international oil companies (IOCs) to national oil companies (NOCs) and Independents, playing pro-active from First Call to Last Call in the pursuit of projects becomes a challenging process that we describe below for maintaining your high hit-rate for […]
Oil & Gas and Petrochemical Business Picks Up 2B1st Consulting team wishes you a Happy New Year rich of health, happiness and success, especially since 2017 starts with number of good news. The first good news comes from the Oil & Gas and Petrochemical market picking up. The second good news is related to the change […]
Sevan completed Bream-Mackerel FPSO pre-FEED The London-based junior company Premier Oil Limited (Premier Oil) and its partners, the State-owned Kuwait Foreign Petroleum Exploration Company KSC (KUFPEC) and the FTSE-listed Tullow Oil (Tullow), are on the point to select the conceptual design to be used for the development of the Bream and Mackerel oil and gas fields offshore […]
PTTEP to add Arthit South Gas Gathering Platform The Thailand national oil company (NOC) PTT Exploration and Production Public Company Ltd (PTTEP) and its partners, Chevron from USA and Mitsui Oil Exploration Company (Mitsui or MOECO) from Japan are working on the call for tender for the Arthit south gas Gathering Platform (AGP) in the […]
Saudi Aramco to award shale gas treatment FEED The world largest company by the size of crude oil reserves, Saudi Aramco, is planning to award the front end engineering and design (FEED) contracts for the gas central processing facilities to support the development of the shale gas exploration – production in three regions of Saudi […]
Petroceltic to prepare FEED on Ain Tsila development The Irish junior company Petroceltic International plc (Petroceltic) and its partners, the Algerian national oil company (NOC) Sonatrach and the Italian utility Enel, are preparing to move into the front end engineering and design (FEED) phase of the Ain Tsila discovery within the Isarene gas and condensate […]
