Oil and gas contracts in Europe registered a decrease of 9% in October 2022 with 179 contracts, when compared with 197 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 10%, when compared with the last 12-month average of 198 contracts.


Contract award activity in Europe during October 2022

Looking at contracts by country, Norway led the activity in October 2022 with 85 contracts representing a 47% share of all the oil and gas contracts, followed by the UK with 31 contracts and a 17% share and Russia with 20 contracts and an 11% share. It saw a decrease of 1% over the previous month’s total of 86 contracts and an increase of 27% when compared with the last 12 month-average 67 contracts in Norway.

Based on 12-month moving average, Norway took the top spot with 70 contracts, followed by the UK and Russia with 58 and 25 contracts, respectively.


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

Looking at oil and gas contracts by segment in Europe, upstream segment contributed the most in terms of the contracts awarded, with 138 contracts in October 2022, followed by midstream and downstream with 22 and five contracts, respectively.

Contracts by scope of work in Europe during October 2022

During October 2022, the majority of the contracts awarded were in the operations & maintenance space with 123 contracts, followed by procurement and design & engineering with 41 and 23 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.