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October 28, 2021

Oil and gas contracts in Europe up 21% in September 2021

By Carmen

Oil and gas contracts in Europe registered an increase of 21% in September 2021 with 223 contracts, when compared with 185 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked an increase of 7%, when compared with the last 12-month average of 209 contracts.


Contract award activity in Europe during September 2021

Looking at contracts by country, Norway led the activity in September 2021 with 72 contracts representing a 32% share of all the oil and gas contracts, followed by the UK with 68 contracts and a 30% share and Russia with 39 contracts and a 17% share. It saw an increase of 20% over the previous month’s total of 60 contracts and an increase of 14% when compared with the last 12 month-average 63 contracts in Norway.

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Based on 12-month moving average, the UK took the top spot with 69 contracts, followed by Norway and Russia with 65 and 31 contracts, respectively.


Europe’s oil and gas contracts by segment in September 2021

Looking at oil and gas contracts by segment in Europe, upstream segment contributed the most in terms of the contracts awarded, with 171 contracts in September 2021, followed by midstream and downstream with 23 and 16 contracts, respectively.

Contracts by scope of work in Europe during September 2021

During September 2021, the majority of the contracts awarded were in the operations & maintenance space with 117 contracts, followed by procurement and design & engineering with 60 contracts each.

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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