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September 29, 2021updated 30 Sep 2021 9:52am

Oil and gas contracts in Europe down 8% in August 2021

By Carmen

Oil and gas contracts in Europe registered a decrease of 8% in August 2021 with 184 contracts, when compared with 201 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 12%, when compared with the last 12-month average of 208 contracts.

 

Contract award activity in Europe during August 2021

Looking at contracts by country, Norway led the activity in August 2021 with 60 contracts representing a 33% share of all the oil and gas contracts, followed by the UK with 59 contracts and a 32% share and Russia with 28 contracts and a 15% share. It saw a decrease of 10% over the previous month’s total of 67 contracts and a decrease of 3% when compared with the last 12 month-average 62 contracts in Norway.

Based on 12-month moving average, the UK took the top spot with 68 contracts, followed by Norway and Russia with 63 and 32 contracts, respectively.

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Europe’s oil and gas contracts by segment in August 2021

Looking at oil and gas contracts by segment in Europe, upstream segment contributed the most in terms of the contracts awarded, with 136 contracts in August 2021, followed by midstream and downstream with 15 and 13 contracts, respectively.

Contracts by scope of work in Europe during August 2021

During August 2021, the majority of the contracts awarded were in the operations & maintenance space with 112 contracts, followed by design & engineering and procurement with 50 and 37 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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