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June 28, 2022

Upstream oil and gas contracts down 7% in May 2022

By Carmen

Contracts in the upstream oil and gas segment registered a decrease of 7% with a total of 330 contracts in May 2022, when compared with 356 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 9%, when compared with the last 12-month average of 364 contracts.


Upstream oil and gas contracts in May 2022

By comparing contracts related to the upstream segment in different regions of the globe, Europe held the top position with 136 contracts and a 41% share in May 2022, followed by North America and Asia-Pacific with 80 (24%) and 68 (21%) contracts, respectively.


Contracts by scope of work in upstream segment in May 2022

During the month, the majority of contracts in the upstream segment were awarded in the operations & maintenance with 215 contracts, followed by procurement and design & engineering with 81 and 43 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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