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  1. Market Data
September 15, 2022

Contract activities in petrochemicals segment in Europe up 200% in August 2022

By Carmen

The petrochemicals segment contracts in Europe registered an increase of 200% with six contracts in August 2022, when compared with the previous month’s total of two contracts, according to GlobalData’s oil and gas contracts database.

A total of six contracts were registered in the petrochemicals segment of Europe during the month, when compared with the last 12-month moving average of five contracts.


In terms of the number of contracts in Europe, the upstream segment contributed the most with 140 contracts in August 2022, followed by midstream and petrochemicals segments with 16 and six contracts, respectively.


Contract award activity in Europe’s petrochemicals segment during August 2022

In August 2022, Belgium led the activity with two contracts and a 33% share of the petrochemicals oil and gas contracts in Europe, followed by Hungary and Italy with one contract 17% share each.

Based on 12-month moving average of the contracts in the petrochemicals segment of Europe, Belgium, Norway and Russia took the top spot with one contract each.

Contracts by scope of work in Europe’s petrochemicals segment during August 2022

During the month, the majority of petrochemicals segment contracts awarded in the Europe were in the design & engineering with four contracts, followed by procurement and construction with two and one contract, respectively.

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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