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  1. Market Data
August 22, 2022

Oil and gas contracts in Europe down 3% in July 2022

By Carmen

Oil and gas contracts in Europe registered a decrease of 3% in July 2022 with 142 contracts, when compared with 147 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 32%, when compared with the last 12-month average of 209 contracts.


Contract award activity in Europe during July 2022

Looking at contracts by country, Norway led the activity in July 2022 with 54 contracts representing a 38% share of all the oil and gas contracts, followed by the UK with 32 contracts and a 23% share and Russia with 31 contracts and a 22% share. It saw an increase of 2% over the previous month’s total of 53 contracts and a decrease of 17% when compared with the last 12 month-average 65 contracts in Norway.

Based on 12-month moving average, the UK took the top spot with 66 contracts, followed by Norway and Russia with 64 and 28 contracts, respectively.


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

Looking at oil and gas contracts by segment in Europe, upstream segment contributed the most in terms of the contracts awarded, with 113 contracts in July 2022, followed by midstream and carbon capture with 15 and four contracts, respectively.

Contracts by scope of work in Europe during July 2022

During July 2022, the majority of the contracts awarded were in the operations & maintenance space with 96 contracts, followed by procurement and design & engineering with 35 and 20 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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