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September 29, 2021updated 30 Sep 2021 3:29pm

Offshore oil and gas contracts down 2% in Q2 2021

By Carmen

Offshore oil and gas contracts registered a decrease of 2% in Q2 2021 with a total of 713 contracts, when compared with 729 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.

The activity marked an increase of 10%, when compared with an average of 650 contracts over the last four quarters.

 

Upstream segment had the majority of contracts in the offshore terrain with 688 contracts and a 96% share, followed by midstream with 31 contracts.

 

Offshore oil and gas contracts activity by region in Q2 2021

Europe led the offshore contracts activity with 411 contracts and a 58% share in Q2 2021, followed by Asia-Pacific and South America with 122 (17%) and 58 (8%) contracts, respectively.

Offshore contracts by scope of work in Q2 2021

During the quarter, the majority of contracts in the offshore were awarded in the operations & maintenance with 487 contracts, followed by procurement and design & engineering with 173 and 118 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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