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  1. Market Data
March 21, 2022

Contract activities in downstream segment in Europe down 17% in February 2022

By Carmen

The downstream segment contracts in Europe registered a decrease of 17% with five contracts in February 2022, when compared with the previous month’s total of six contracts, according to GlobalData’s oil and gas contracts database.

A total of five contracts were registered in the downstream segment of Europe during the month, when compared with the last 12-month moving average of 14 contracts.


In terms of the number of contracts in Europe, the upstream segment contributed the most with 198 contracts in February 2022, followed by midstream and downstream segments with 14 and five contracts, respectively.


Contract award activity in Europe’s downstream segment during February 2022

In February 2022, Russia led the activity with three contracts and a 60% share of the downstream oil and gas contracts in Europe. It saw an increase of 50% over the previous month’s total of two contracts and a flat growth when compared with the last 12 month-average of three contracts in Russia, followed by Spain and the Netherlands with one contract 20% share each.

Based on 12-month moving average of the contracts in the downstream segment of Europe, Russia took the top spot with three contracts, followed by France and Germany with one contract each.

Contracts by scope of work in Europe’s downstream segment during February 2022

During the month, the majority of downstream segment contracts awarded in the Europe were in the design & engineering with four contracts, followed by procurement with one contract.

Methodology

All publicly announced contracts are included in this analysis, which is drawn from GlobalData’s oil and gas contracts database that provides insights into awarded and expired contracts globally.

More in-depth reports and analysis on all reported contracts are available for subscribers to GlobalData’s oil and gas database.

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