Oil and gas contracts in Europe registered an increase of 14% in August 2022 with 166 contracts, when compared with 146 contracts in the previous month, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 19%, when compared with the last 12-month average of 204 contracts.
Contract award activity in Europe during August 2022
Looking at contracts by country, Norway led the activity in August 2022 with 79 contracts representing a 48% share of all the oil and gas contracts, followed by the UK with 32 contracts and a 19% share and Russia with 17 contracts and a 10% share. It saw an increase of 46% over the previous month’s total of 54 contracts and an increase of 22% when compared with the last 12 month-average 65 contracts in Norway.
Based on 12-month moving average, Norway took the top spot with 66 contracts, followed by the UK and Russia with 64 and 27 contracts, respectively.
Europe’s oil and gas contracts by segment in August 2022
Looking at oil and gas contracts by segment in Europe, upstream segment contributed the most in terms of the contracts awarded, with 140 contracts in August 2022, followed by midstream and petrochemicals with 16 and six contracts, respectively.
Contracts by scope of work in Europe during August 2022
During August 2022, the majority of the contracts awarded were in the operations & maintenance space with 112 contracts, followed by procurement and design & engineering with 33 and 25 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.