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  1. Market Data
March 21, 2022

Offshore oil and gas contracts up 18% in February 2022

By Carmen

Offshore oil and gas contracts registered an increase of 18% in February 2022 with a total of 293 contracts, when compared with 249 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked an increase of 16%, when compared with an average of 253 contracts over the last 12 months.


Upstream segment had the majority of contracts in the offshore terrain with 286 contracts and a 98% share, followed by midstream with eight contracts.


Offshore oil and gas contracts activity by region in February 2022

Europe led the offshore contracts activity with 172 contracts and a 59% share in February 2022, followed by Asia-Pacific and South America with 58 (20%) and 26 (9%) contracts, respectively.

Offshore contracts by scope of work in February 2022

During the month, the majority of contracts in the offshore were awarded in the operations & maintenance with 234 contracts, followed by procurement and design & engineering with 32 and 31 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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