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  1. Market Data
September 15, 2022

Offshore oil and gas contracts up 4% in August 2022

By Carmen

Offshore oil and gas contracts registered an increase of 4% in August 2022 with a total of 229 contracts, when compared with 221 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 12%, when compared with an average of 261 contracts over the last 12 months.


Upstream segment had the majority of contracts in the offshore terrain with 222 contracts and a 97% share, followed by midstream with 14 contracts.


Offshore oil and gas contracts activity by region in August 2022

Europe led the offshore contracts activity with 124 contracts and a 54% share in August 2022, followed by Asia-Pacific and North America with 33 (14%) and 24 (10%) contracts, respectively.

Offshore contracts by scope of work in August 2022

During the month, the majority of contracts in the offshore were awarded in the operations & maintenance with 142 contracts, followed by procurement and design & engineering with 62 and 36 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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