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March 21, 2022

Midstream oil and gas contracts down 21% in February 2022

By Carmen

Contracts in the midstream oil and gas segment registered a decrease of 21% with a total of 59 contracts in February 2022, when compared with 75 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 30%, when compared with the last 12-month average of 84 contracts.


Midstream oil and gas contracts in February 2022

By comparing contracts related to the midstream segment in different regions of the globe, Asia-Pacific held the top position with 24 contracts and a 41% share in February 2022, followed by Europe and North America with 14 (24%) and nine (15%) contracts, respectively.


Contracts by scope of work in midstream segment in February 2022

During the month, the majority of contracts in the midstream segment were awarded in the procurement with 20 contracts, followed by construction and design & engineering with 19 and 18 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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