A total of 1,485 contracts have been awarded in the oil and gas sector globally in Q2 2022, marking a decrease of 16% when compared with 1,772 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 12%, when compared with the last four-quarter average of 1,692 contracts.
Oil and gas contracts activity by region in Q2 2022
By comparing contracts activity in different regions of the globe, Europe held the top position with 509 contracts and a 34% share in Q2 2022, followed by Asia-Pacific and North America with 376 (25%) and 371 (25%) contracts, respectively.
In fourth place was Middle East with 114 contracts and an 8% share.
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Based on five-quarter moving average, Europe took a lead over others with 627 contracts, followed by Asia-Pacific with 423 contracts.
Upstream segment tops contracts activity in Q2 2022
Looking at contracts by segment, upstream accounted for the largest proportion with 1,033 contracts and a 70% share, followed by midstream with 236 contracts and a 16% 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.