A total of 477 contracts have been awarded in the oil and gas sector globally in May 2022, marking a decrease of 8% when compared with 521 contracts in the previous month, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 14%, when compared with the last 12-month average of 557 contracts.
Oil and gas contracts activity by region in May 2022
By comparing contracts activity in different regions of the globe, Europe held the top position with 180 contracts and a share of 38% in May 2022, followed by Asia-Pacific and North America with 125 contracts (26%) and 103 contracts (22%), respectively.
In fourth place was Middle East with 29 contracts and a 6% share.
Upstream segment tops contracts activity in May 2022
Looking at contracts by segment, upstream accounted for the largest proportion with 330 contracts and a 69% share in May 2022, followed by midstream with 66 contracts and a 14% 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.