Oil and gas contracts in Europe registered a decrease of 9% in March 2022 with 215 contracts, when compared with 237 contracts in the previous month, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 3%, when compared with the last 12-month average of 221 contracts.
Contract award activity in Europe during March 2022
Looking at contracts by country, Norway led the activity in March 2022 with 92 contracts representing a 43% share of all the oil and gas contracts, followed by the UK with 75 contracts and a 35% share and Russia with 21 contracts and a 10% share. It saw an increase of 16% over the previous month’s total of 79 contracts and an increase of 42% 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 75 contracts, followed by Norway and Russia with 66 and 26 contracts, respectively.
Europe’s oil and gas contracts by segment in March 2022
Looking at oil and gas contracts by segment in Europe, upstream segment contributed the most in terms of the contracts awarded, with 178 contracts in March 2022, followed by midstream and carbon capture with 19 and six contracts, respectively.
Contracts by scope of work in Europe during March 2022
During March 2022, the majority of the contracts awarded were in the operations & maintenance space with 158 contracts, followed by procurement and design & engineering with 41 and 31 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.