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November 12, 2021

Oil and gas contracts awarded globally down 26% in October 2021

By Carmen

A total of 395 contracts have been awarded in the oil and gas sector globally in October 2021, marking a decrease of 26% when compared with 531 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 24%, when compared with the last 12-month average of 519 contracts.


Oil and gas contracts activity by region in October 2021

By comparing contracts activity in different regions of the globe, Europe held the top position with 169 contracts and a share of 43% in October 2021, followed by North America and Asia-Pacific with 94 contracts (24%) and 69 contracts (17%), respectively.

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In fourth place was Middle East with 40 contracts and a 10% share.


Upstream segment tops contracts activity in October 2021

Looking at contracts by segment, upstream accounted for the largest proportion with 283 contracts and a 72% share in October 2021, followed by midstream with 59 contracts and a 15% share.

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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