NR1867

NEWS RELEASE                                                                                                     NOVEMBER 2013

More Than $10 Billion Committed Each Week for Oil, Gas and Refining Projects

A number of very large oil, gas and refining projects are initiated each week.  East Asia, North America and many regions of the world are benefiting from these very large investments. This is the conclusion reached by the McIlvaine Company in Oil, Gas, Shale and Refining Markets and Projects. (www.mcilvainecompany.com)

Projects are tracked on a daily basis. Here are just some of the projects in a ten day period:

Some of the larger projects awarded in late October 2013:

East Timor Offers New Bid of $800 Mln for Onshore Gas Processing

Cumulative $800 million

FMC Awarded $340 Mln Contract for Ghana's TEN Project

Cumulative $1,140 million

Petrobras Awards $260 Mln Umbilicals, Flex Pipe Contract for Presalt Development Offshore Brazil

Cumulative $1,400 million

Jacobs Receives $200 Mln Contract from BP in Scotland

Cumulative $1,600 million

GE Signs $2.7 Bln in Gas Power Contracts in Algeria

Cumulative $4,300 million

Sembcorp Marine to Build $346 Mln Semi-Submersible Rig

Cumulative $4,646 million

Rolls-Royce Wins $175 Mln Contract to Power Kazakhstan-China Pipeline 

Cumulative $4,821 million

BP Awards UK Companies over £1Bln in Contracts for Key West of Shetland Project 

Cumulative $5,821 million

FMC Wins $650 Mln Contract with Petrobras for 16 Subsea Manifolds

Cumulative $6,471 million

FMC Technologies Receives $90 Mln Subsea Order for Statoil's Gullfaks Rimfaksdalen Project  (Order Dated: 10/15/2013)

Cumulative $6,561 million

Gazprom Awards Petrofac $95M Second Contract in Iraq  (Contract Dated: 10/14/2013)

Cumulative $6,656 million

L&T Wins $250 Mln EPC Contract from PDO Oman  (Contract Dated: 10/14/2013)

Cumulative $6,906 million

There are relatively few conventional on shore projects.  Non-conventional on shore deposits such as in shale will account for a large portion of the future U.S. production.  Substantial investment is continuing in tar sands. A number of large LNG plants are also underway. Several gas-to-liquids plants received recent funding.

For more information on Oil, Gas, Shale and Refining Markets and Projects, click on: http://home.mcilvainecompany.com/index.php/markets/28-energy/471-n049