Offshore oil and gas contracts registered a decrease of 2% in May 2022 with a total of 238 contracts, when compared with 242 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 10%, when compared with an average of 264 contracts over the last 12 months.


Upstream segment had the majority of contracts in the offshore terrain with 223 contracts and a 94% share, followed by midstream with 11 contracts.


Offshore oil and gas contracts activity by region in May 2022

Europe led the offshore contracts activity with 132 contracts and a 55% share in May 2022, followed by Asia-Pacific and South America with 58 (24%) and 18 (8%) contracts, respectively.

Offshore contracts by scope of work in May 2022

During the month, the majority of contracts in the offshore were awarded in the operations & maintenance with 145 contracts, followed by procurement and design & engineering with 66 and 41 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.