A total of 1,314 contracts have been awarded in the oil and gas sector globally in Q4 2021, marking a decrease of 18% when compared with 1,601 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 18%, when compared with the last four-quarter average of 1,594 contracts.
Oil and gas contracts activity by region in Q4 2021
By comparing contracts activity in different regions of the globe, Europe held the top position with 543 contracts and a 41% share in Q4 2021, followed by Asia-Pacific and North America with 278 (21%) and 272 (21%) contracts, respectively.
In fourth place was Middle East with 120 contracts and a 9% share.
Based on five-quarter moving average, Europe took a lead over others with 633 contracts, followed by Asia-Pacific with 373 contracts.
Upstream segment tops contracts activity in Q4 2021
Looking at contracts by segment, upstream accounted for the largest proportion with 909 contracts and a 69% share, followed by midstream with 196 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.