A total of 534 contracts have been awarded in the oil and gas sector globally in February 2022, marking an increase of 10% when compared with 487 contracts in the previous month, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 2%, when compared with the last 12-month average of 543 contracts.
Oil and gas contracts activity by region in February 2022
By comparing contracts activity in different regions of the globe, Europe held the top position with 232 contracts and a share of 43% in February 2022, followed by Asia-Pacific and North America with 121 contracts (23%) and 104 contracts (19%), respectively.
In fourth place was South America with 34 contracts and a 6% share.
Upstream segment tops contracts activity in February 2022
Looking at contracts by segment, upstream accounted for the largest proportion with 415 contracts and a 78% share in February 2022, followed by midstream with 59 contracts and an 11% share.
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.