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November 12, 2021

Offshore oil and gas contracts down 33% in October 2021

By Carmen

Offshore oil and gas contracts registered a decrease of 33% in October 2021 with a total of 192 contracts, when compared with 286 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 21%, when compared with an average of 243 contracts over the last 12 months.


Upstream segment had the majority of contracts in the offshore terrain with 188 contracts and a 98% share, followed by midstream with seven contracts.


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Offshore oil and gas contracts activity by region in October 2021

Europe led the offshore contracts activity with 106 contracts and a 55% share in October 2021, followed by Asia-Pacific and North America with 34 (18%) and 20 (10%) contracts, respectively.

Offshore contracts by scope of work in October 2021

During the month, the majority of contracts in the offshore were awarded in the operations & maintenance with 134 contracts, followed by procurement and design & engineering with 43 and 28 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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