Offshore oil and gas contracts registered an increase of 14% in November 2022 with a total of 256 contracts, when compared with 225 contracts in the previous month, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 3%, 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 238 contracts and a 93% share, followed by midstream with 21 contracts.
Offshore oil and gas contracts activity by region in November 2022
Europe led the offshore contracts activity with 129 contracts and a 50% share in November 2022, followed by Asia-Pacific and South America with 47 (18%) and 22 (9%) contracts, respectively.
Offshore contracts by scope of work in November 2022
During the month, the majority of contracts in the offshore were awarded in the operations & maintenance with 170 contracts, followed by procurement and design & engineering with 56 and 49 contracts, respectively.
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.