The midstream segment contracts in Europe registered a decrease of 15% with 51 contracts in Q2 2022, when compared with the previous quarter’s total of 60 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 67 contracts.
In terms of the number of contracts in Europe, the upstream segment contributed the most with 381 contracts in Q2 2022, followed by midstream and downstream segments with 51 and 21 contracts, respectively.
Contract award activity in Europe’s midstream segment during Q2 2022
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Looking at the total oil and gas contracts by country in the midstream segment of Europe, Russia led the activity in Q2 2022 with 13 contracts and a 25% share. It saw a decrease of 48% over the previous quarter’s total of 25 contracts and a decrease of 41% when compared with the last four-quarter-average of 22 contracts in Russia.
In second place was Germany with six contracts and a 12% share, followed by the UK with five contracts and a 10% share.
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 Q2 2022
During the quarter, the majority of midstream segment contracts awarded in the Europe were in the operations & maintenance with 24 contracts, followed by procurement and design & engineering with 20 and seven contracts, respectively.
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.