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  1. Market Data
July 14, 2022

Contract activities in midstream segment in Europe down 12% in June 2022

By Carmen

The midstream segment contracts in Europe registered a decrease of 12% with 15 contracts in June 2022, when compared with the previous month’s total of 17 contracts, according to GlobalData’s oil and gas contracts database.

A total of 15 contracts were registered in the midstream segment of Europe during the month, when compared with the last 12-month moving average of 21 contracts.


In terms of the number of contracts in Europe, the upstream segment contributed the most with 100 contracts in June 2022, followed by midstream and petrochemicals segments with 15 and five contracts, respectively.


Contract award activity in Europe’s midstream segment during June 2022

In June 2022, Russia led the activity with four contracts and a 27% share of the midstream oil and gas contracts in Europe. It saw a flat growth over the previous month’s total of four contracts and a decrease of 43% when compared with the last 12 month-average of seven contracts in Russia, followed by the UK and the Netherlands with two contracts 13% share each.

Based on 12-month moving average of the contracts in the midstream segment of Europe, Russia took the top spot with six contracts, followed by Greece and Norway with two contracts each.

Contracts by scope of work in Europe’s midstream segment during June 2022

During the month, the majority of midstream segment contracts awarded in the Europe were in the operations & maintenance and procurement with six contracts each, followed by design & engineering with four 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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