Oil and gas contracts in Europe registered a decrease of 24% in January 2022 with 172 contracts, when compared with 225 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

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The activity marked a decrease of 20%, when compared with the last 12-month average of 214 contracts.


Contract award activity in Europe during January 2022

Looking at contracts by country, the UK led the activity in January 2022 with 68 contracts representing a 40% share of all the oil and gas contracts, followed by Norway with 55 contracts and a 32% share and Russia with 19 contracts and an 11% share.

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Based on 12-month moving average, the UK took the top spot with 72 contracts, followed by Norway and Russia with 64 and 28 contracts, respectively.

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

Looking at oil and gas contracts by segment in Europe, upstream segment contributed the most in terms of the contracts awarded, with 132 contracts in January 2022, followed by midstream and petrochemicals with 16 and six contracts, respectively.

Contracts by scope of work in Europe during January 2022

During January 2022, the majority of the contracts awarded were in the operations & maintenance space with 114 contracts, followed by design & engineering and procurement with 30 and 26 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.