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September 29, 2021updated 06 Oct 2021 4:42pm

Contract activities in petrochemicals segment in Europe down 42% in Q2 2021

By Carmen

The petrochemicals segment contracts in Europe registered a decrease of 42% with 14 contracts in Q2 2021, when compared with the previous quarter’s total of 24 contracts, according to GlobalData’s oil and gas contracts database.

A total of 14 contracts were registered in the petrochemicals segment of Europe during the quarter, when compared with the last four-quarter moving average of 19 contracts.

 


 

Contract award activity in Europe’s petrochemicals segment during Q2 2021

Looking at the total oil and gas contracts by country in the petrochemicals segment of Europe, Norway led the activity in Q2 2021 with four contracts and a 29% share. It saw a flat growth over the previous quarter’s total of four contracts and an increase of 300% when compared with the last four-quarter-average of one contract in Norway.

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In second place was Russia with three contracts and a 21% share, followed by Poland with two contracts and a 14% share.

Based on five-quarter moving average of the contracts in the petrochemicals segment of Europe, Russia took the top spot with 10 contracts, followed by Norway and Belgium with two and one contract, respectively.

Contracts by scope of work in Europe’s petrochemicals segment during Q2 2021

During the quarter, the majority of petrochemicals segment contracts awarded in the Europe were in the design & engineering with 10 contracts, followed by procurement with six contracts.

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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