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September 29, 2021updated 30 Sep 2021 9:49am

Oil and gas contracts awarded globally up 1% in Q2 2021

By Carmen

A total of 1,585 contracts have been awarded in the oil and gas sector globally in Q2 2021, marking an increase of 1% when compared with 1,569 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.

The activity marked an increase of 12%, when compared with the last four-quarter average of 1,420 contracts.

 

Oil and gas contracts activity by region in Q2 2021

By comparing contracts activity in different regions of the globe, Europe held the top position with 628 contracts and a 40% share in Q2 2021, followed by Asia-Pacific and North America with 416 (26%) and 280 (18%) contracts, respectively.

In fourth place was Middle East with 126 contracts and an 8% share.

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Based on five-quarter moving average, Europe took a lead over others with 598 contracts, followed by Asia-Pacific with 361 contracts.

 

Upstream segment tops contracts activity in Q2 2021

Looking at contracts by segment, upstream accounted for the largest proportion with 985 contracts and a 62% share, followed by midstream with 267 contracts and a 17% share.

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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