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  1. Market Data
July 14, 2022

Offshore oil and gas contracts down 23% in June 2022

By Carmen

Offshore oil and gas contracts registered a decrease of 23% in June 2022 with a total of 183 contracts, when compared with 238 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 31%, when compared with an average of 265 contracts over the last 12 months.


Upstream segment had the majority of contracts in the offshore terrain with 176 contracts and a 96% share, followed by midstream with seven contracts.


Offshore oil and gas contracts activity by region in June 2022

Europe led the offshore contracts activity with 92 contracts and a 50% share in June 2022, followed by Asia-Pacific and Middle East with 35 (19%) and 23 (13%) contracts, respectively.

Offshore contracts by scope of work in June 2022

During the month, the majority of contracts in the offshore were awarded in the operations & maintenance with 107 contracts, followed by procurement and design & engineering with 53 and 32 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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