Global Oil & Gas Contracts Up By $7bn In Q2

Global oil and gas contracts saw a $7 billion increase in total disclosed value in the second quarter of 2025 compared to the first quarter. Despite a slight decrease in the number of contracts reported, Africa experienced a surge in contracts, with notable awards in the midstream segment.

Contracts awarded included projects like the upgrade of the Habshan 5 gas processing pipeline in the UAE by John Wood Group and a framework agreement by QS Energy to modernize crude oil transport infrastructure in Southeast Asia, Africa, and China. The contracts primarily focused on engineering, procurement, and construction services for various oil and gas facilities.

Operations and maintenance made up 48% of the total contracts, followed by procurement at 30%. The upstream sector had the most reported contracts in Q2 2025, with Asia leading in contract numbers, followed by Europe and North America.