Offshore oil and gas contracts registered a decrease of 21% in April 2022 with a total of 239 contracts, when compared with 304 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 9%, when compared with an average of 262 contracts over the last 12 months.


Upstream segment had the majority of contracts in the offshore terrain with 220 contracts and a 92% share, followed by midstream with 12 contracts.


Offshore oil and gas contracts activity by region in April 2022

Europe led the offshore contracts activity with 129 contracts and a 54% share in April 2022, followed by Asia-Pacific and Middle East with 52 (22%) and 19 (8%) contracts, respectively.

Offshore contracts by scope of work in April 2022

During the month, the majority of contracts in the offshore were awarded in the operations & maintenance with 153 contracts, followed by procurement and design & engineering with 54 and 45 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.