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January 11, 2022

Contract activities in petrochemicals segment in Europe up 150% in December 2021

By Carmen

The petrochemicals segment contracts in Europe registered an increase of 150% with five contracts in December 2021, when compared with the previous month’s total of two contracts, according to GlobalData’s oil and gas contracts database.

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



Contract award activity in Europe’s petrochemicals segment during December 2021

In December 2021, Poland and Russia led the activity with two contracts and a 40% share each of the petrochemicals oil and gas contracts in Europe. It saw an increase of 200% over the previous month’s no contracts and an increase of 100% when compared with the last 12 month-average of one contract in Poland, followed by Hungary with one contract and a 20% share, followed by Hungary with one contract and a 20% share.

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

Contracts by scope of work in Europe’s petrochemicals segment during December 2021

During the month, the majority of petrochemicals segment contracts awarded in the Europe were in the procurement with four contracts, followed by design & engineering and installation 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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