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  1. Market Data
May 27, 2022

Oil and gas contracts in Europe down 19% in April 2022

By Carmen

Oil and gas contracts in Europe registered a decrease of 19% in April 2022 with 190 contracts, when compared with 234 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 13%, when compared with the last 12-month average of 218 contracts.


Contract award activity in Europe during April 2022

Looking at contracts by country, the UK led the activity in April 2022 with 71 contracts representing a 37% share of all the oil and gas contracts, followed by Norway with 58 contracts and a 31% share and Russia with 24 contracts and a 13% share. It saw a decrease of 9% over the previous month’s total of 78 contracts and a decrease of 7% when compared with the last 12 month-average 76 contracts in the UK.

Based on 12-month moving average, the UK took the top spot with 75 contracts, followed by Norway and Russia with 66 and 28 contracts, respectively.


Europe’s oil and gas contracts by segment in April 2022

Looking at oil and gas contracts by segment in Europe, upstream segment contributed the most in terms of the contracts awarded, with 143 contracts in April 2022, followed by midstream and downstream with 17 and 11 contracts, respectively.

Contracts by scope of work in Europe during April 2022

During April 2022, the majority of the contracts awarded were in the operations & maintenance space with 122 contracts, followed by procurement and design & engineering with 52 and 29 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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