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  1. Market Data
April 13, 2022

Offshore oil and gas contracts down 7% in March 2022

By Carmen

Offshore oil and gas contracts registered a decrease of 7% in March 2022 with a total of 280 contracts, when compared with 302 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked an increase of 8%, when compared with an average of 260 contracts over the last 12 months.


Upstream segment had the majority of contracts in the offshore terrain with 259 contracts and a 93% share, followed by midstream with 21 contracts.


Offshore oil and gas contracts activity by region in March 2022

Europe led the offshore contracts activity with 173 contracts and a 62% share in March 2022, followed by Asia-Pacific and Middle East with 64 (23%) and 14 (5%) contracts, respectively.

Offshore contracts by scope of work in March 2022

During the month, the majority of contracts in the offshore were awarded in the operations & maintenance with 179 contracts, followed by procurement and design & engineering with 68 and 57 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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