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  1. Market Data
January 11, 2022

Oil and gas contracts in Europe up 16% in December 2021

By Carmen

Oil and gas contracts in Europe registered an increase of 16% in December 2021 with 197 contracts, when compared with 170 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 9%, when compared with the last 12-month average of 216 contracts.


Contract award activity in Europe during December 2021

Looking at contracts by country, the UK led the activity in December 2021 with 78 contracts representing a 40% share of all the oil and gas contracts, followed by Norway with 73 contracts and a 37% share and Russia with 15 contracts and an 8% share. It saw an increase of 24% over the previous month’s total of 63 contracts and an increase of 11% when compared with the last 12 month-average 70 contracts in the UK.

Based on 12-month moving average, the UK took the top spot with 71 contracts, followed by Norway and Russia with 64 and 28 contracts, respectively.


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

Looking at oil and gas contracts by segment in Europe, upstream segment contributed the most in terms of the contracts awarded, with 162 contracts in December 2021, followed by midstream and downstream with 14 and six contracts, respectively.

Contracts by scope of work in Europe during December 2021

During December 2021, the majority of the contracts awarded were in the operations & maintenance space with 130 contracts, followed by procurement and design & engineering with 41 and 40 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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