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  1. Market Data
January 11, 2022

Contract activities in petrochemicals segment in Europe down 63% in Q4 2021

By Carmen

The petrochemicals segment contracts in Europe registered a decrease of 63% with 10 contracts in Q4 2021, when compared with the previous quarter’s total of 27 contracts, according to GlobalData’s oil and gas contracts database.

A total of 10 contracts were registered in the petrochemicals segment of Europe during the quarter, when compared with the last four-quarter moving average of 21 contracts.



Contract award activity in Europe’s petrochemicals segment during Q4 2021

Looking at the total oil and gas contracts by country in the petrochemicals segment of Europe, Russia led the activity in Q4 2021 with four contracts and a 40% share. It saw a decrease of 75% over the previous quarter’s total of 16 contracts and a decrease of 64% when compared with the last four-quarter-average of 11 contracts in Russia, followed by Norway and Poland with two contracts 20% share each.

Based on five-quarter moving average of the contracts in the petrochemicals segment of Europe, Russia took the top spot with nine contracts, followed by Norway and Poland with two contracts each.

Contracts by scope of work in Europe’s petrochemicals segment during Q4 2021

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