Contracts in the upstream oil and gas segment registered an increase of 16% with 1,161 contracts in Q1 2022, when compared with 1,000 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.
The activity marked an increase of 13%, when compared with the last four-quarter average of 1,026 contracts.
Upstream oil and gas contracts in Q1 2022
Europe led the contracts activity for upstream segment, with 517 contracts and a 45% share in Q1 2022, followed by North America and Asia-Pacific with 254 (22%) and 239 (21%) contracts, respectively.
Contracts by scope of work in upstream segment in Q1 2022
During the quarter, the majority of contracts in the upstream segment were awarded in the operations & maintenance with 849 contracts, followed by procurement and design & engineering with 216 and 145 contracts, respectively.
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.