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March 21, 2022

Upstream oil and gas contracts up 17% in February 2022

By Carmen

Contracts in the upstream oil and gas segment registered an increase of 17% with a total of 415 contracts in February 2022, when compared with 354 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked an increase of 20%, when compared with the last 12-month average of 347 contracts.


Upstream oil and gas contracts in February 2022

By comparing contracts related to the upstream segment in different regions of the globe, Europe held the top position with 198 contracts and a 48% share in February 2022, followed by Asia-Pacific and North America with 79 contracts and a (19%) share each.


Contracts by scope of work in upstream segment in February 2022

During the month, the majority of contracts in the upstream segment were awarded in the operations & maintenance with 318 contracts, followed by procurement and design & engineering with 66 and 39 contracts, 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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