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  1. Market Data
April 13, 2022

Contract activities in midstream segment in Europe down 19% in Q1 2022

By Carmen

The midstream segment contracts in Europe registered a decrease of 19% with 51 contracts in Q1 2022, when compared with the previous quarter’s total of 63 contracts, according to GlobalData’s oil and gas contracts database.

A total of 51 contracts were registered in the midstream segment of Europe during the quarter, when compared with the last four-quarter moving average of 68 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 midstream segment during Q1 2022

Looking at the total oil and gas contracts by country in the midstream segment of Europe, Russia led the activity in Q1 2022 with 25 contracts and a 49% share. It saw an increase of 56% over the previous quarter’s total of 16 contracts and an increase of 32% when compared with the last four-quarter-average of 19 contracts in Russia, followed by Greece and Norway with six contracts 12% share each.

Based on five-quarter moving average of the contracts in the midstream segment of Europe, Russia took the top spot with 20 contracts, followed by Greece and the UK with seven contracts each.

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

During the quarter, the majority of midstream segment contracts awarded in the Europe were in the procurement with 25 contracts, followed by operations & maintenance and design & engineering with 14 and 13 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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