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September 29, 2021updated 06 Oct 2021 4:45pm

Contract activities in midstream segment in Europe up 6% in Q2 2021

By Carmen

The midstream segment contracts in Europe registered an increase of 6% with 69 contracts in Q2 2021, when compared with the previous quarter’s total of 65 contracts, according to GlobalData’s oil and gas contracts database.

A total of 69 contracts were registered in the midstream segment of Europe during the quarter, when compared with the last four-quarter moving average of 71 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 midstream segment during Q2 2021

Looking at the total oil and gas contracts by country in the midstream segment of Europe, Russia led the activity in Q2 2021 with 24 contracts and a 35% share. It saw an increase of 71% over the previous quarter’s total of 14 contracts and a decrease of 4% when compared with the last four-quarter-average of 25 contracts in Russia.

In second place was the UK with nine contracts and a 13% share, followed by Greece with eight contracts and a 12% share.

Based on five-quarter moving average of the contracts in the midstream segment of Europe, Russia took the top spot with 24 contracts, followed by Greece and Norway with seven and six contracts, respectively.

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

During the quarter, the majority of midstream segment contracts awarded in the Europe were in the operations & maintenance with 28 contracts, followed by procurement 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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