Offshore oil and gas contracts registered an increase of 10% in December 2021 with a total of 237 contracts, when compared with 216 contracts in the previous month, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 4%, when compared with an average of 246 contracts over the last 12 months.
Upstream segment had the majority of contracts in the offshore terrain with 232 contracts and a 98% share, followed by midstream with seven contracts.
Offshore oil and gas contracts activity by region in December 2021
Europe led the offshore contracts activity with 152 contracts and a 64% share in December 2021, followed by Asia-Pacific and South America with 26 (11%) and 20 (8%) contracts, respectively.
Offshore contracts by scope of work in December 2021
During the month, the majority of contracts in the offshore were awarded in the operations & maintenance with 164 contracts, followed by procurement and design & engineering with 53 and 46 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.