Oil and gas contracts in Europe registered a decrease of 11% in November 2021 with 153 contracts, when compared with 172 contracts in the previous month, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 29%, when compared with the last 12-month average of 217 contracts.
Contract award activity in Europe during November 2021
Looking at contracts by country, the UK led the activity in November 2021 with 62 contracts representing a 41% share of all the oil and gas contracts, followed by Norway with 45 contracts and a 29% share and the Netherlands with seven contracts and a 5% share. It saw a decrease of 2% over the previous month’s total of 63 contracts and a decrease of 13% when compared with the last 12 month-average 71 contracts in the UK.
Based on 12-month moving average, the UK took the top spot with 69 contracts, followed by Norway and Russia with 65 and 29 contracts, respectively.
Europe’s oil and gas contracts by segment in November 2021
Looking at oil and gas contracts by segment in Europe, upstream segment contributed the most in terms of the contracts awarded, with 122 contracts in November 2021, followed by midstream and downstream with 14 and seven contracts, respectively.
Contracts by scope of work in Europe during November 2021
During November 2021, the majority of the contracts awarded were in the operations & maintenance space with 94 contracts, followed by procurement and design & engineering with 27 contracts each.
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.