A total of 1,611 contracts have been awarded in the oil and gas sector globally in Q1 2022, marking an increase of 4% when compared with 1,543 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 1%, when compared with the last four-quarter average of 1,630 contracts.
Oil and gas contracts activity by region in Q1 2022
By comparing contracts activity in different regions of the globe, Europe held the top position with 631 contracts and a 39% share in Q1 2022, followed by Asia-Pacific and North America with 441 (27%) and 338 (21%) contracts, respectively.
In fourth place was Middle East with 104 contracts and a 6% share.
Based on five-quarter moving average, Europe took a lead over others with 648 contracts, followed by Asia-Pacific with 413 contracts.
Upstream segment tops contracts activity in Q1 2022
Looking at contracts by segment, upstream accounted for the largest proportion with 1,161 contracts and a 72% share, followed by midstream with 246 contracts and a 15% share.
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.