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January 11, 2022

Contract activities in midstream segment in Europe down 17% in Q4 2021

By Carmen

The midstream segment contracts in Europe registered a decrease of 17% with 59 contracts in Q4 2021, when compared with the previous quarter’s total of 71 contracts, according to GlobalData’s oil and gas contracts database.

A total of 59 contracts were registered in the midstream segment of Europe during the quarter, when compared with the last four-quarter moving average of 72 contracts.


In terms of the number of contracts in Europe, the upstream segment contributed the most with 420 contracts in Q4 2021, followed by midstream and downstream segments with 59 and 26 contracts, respectively.


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Contract award activity in Europe’s midstream segment during Q4 2021

Looking at the total oil and gas contracts by country in the midstream segment of Europe, Russia led the activity in Q4 2021 with 15 contracts and a 25% share. It saw a decrease of 25% over the previous quarter’s total of 20 contracts and a decrease of 32% when compared with the last four-quarter-average of 22 contracts in Russia, followed by the UK and Norway with eight contracts 14% share each.

Based on five-quarter moving average of the contracts in the midstream segment of Europe, Russia took the top spot with 21 contracts, followed by Greece and the UK with seven contracts each.

Contracts by scope of work in Europe’s midstream segment during Q4 2021

During the quarter, the majority of midstream segment contracts awarded in the Europe were in the design & engineering with 27 contracts, followed by procurement and operations & maintenance with 25 and 16 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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