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  1. Market Data
April 13, 2022

Contract activities in downstream segment in Europe down 48% in Q1 2022

By Carmen

The downstream segment contracts in Europe registered a decrease of 48% with 17 contracts in Q1 2022, when compared with the previous quarter’s total of 33 contracts, according to GlobalData’s oil and gas contracts database.

A total of 17 contracts were registered in the downstream segment of Europe during the quarter, when compared with the last four-quarter moving average of 43 contracts.


In terms of the number of contracts in Europe, the upstream segment contributed the most with 517 contracts in Q1 2022, followed by midstream and downstream segments with 51 and 17 contracts, respectively.


Contract award activity in Europe’s downstream segment during Q1 2022

Looking at the total oil and gas contracts by country in the downstream segment of Europe, Russia led the activity in Q1 2022 with seven contracts and a 41% share. It saw a decrease of 22% over the previous quarter’s total of nine contracts and a decrease of 22% when compared with the last four-quarter-average of nine contracts in Russia, followed by Spain and France with two contracts 12% share each.

Based on five-quarter moving average of the contracts in the downstream segment of Europe, Russia took the top spot with eight contracts, followed by the Netherlands and the UK with four contracts each.

Contracts by scope of work in Europe’s downstream segment during Q1 2022

During the quarter, the majority of downstream segment contracts awarded in the Europe were in the procurement with 10 contracts, followed by design & engineering and installation with nine and four contracts, respectively.

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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