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September 29, 2021updated 06 Oct 2021 4:44pm

Contract activities in downstream segment in Europe down 7% in Q2 2021

By Carmen

The downstream segment contracts in Europe registered a decrease of 7% with 43 contracts in Q2 2021, when compared with the previous quarter’s total of 46 contracts, according to GlobalData’s oil and gas contracts database.

A total of 43 contracts were registered in the downstream segment of Europe during the quarter, when compared with the last four-quarter moving average of 33 contracts.

 

In terms of the number of contracts in Europe, the upstream segment contributed the most with 467 contracts in Q2 2021, followed by midstream and downstream segments with 69 and 43 contracts, respectively.

 

Contract award activity in Europe’s downstream segment during Q2 2021

Looking at the total oil and gas contracts by country in the downstream segment of Europe, Russia led the activity in Q2 2021 with eight contracts and a 19% share. It saw a decrease of 20% over the previous quarter’s total of 10 contracts and a flat growth when compared with the last four-quarter-average of eight contracts in Russia.

In second place was Germany with seven contracts and a 16% share, followed by the Netherlands with five contracts and a 12% share.

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 UK and Germany with five and four contracts, respectively.

Contracts by scope of work in Europe’s downstream segment during Q2 2021

During the quarter, the majority of downstream segment contracts awarded in the Europe were in the procurement with 21 contracts, followed by design & engineering with 20 contracts.

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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