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July 14, 2022

Upstream oil and gas contracts down 16% in Q2 2022

By Carmen

Contracts in the upstream oil and gas segment registered a decrease of 16% with 1,033 contracts in Q2 2022, when compared with 1,232 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 5%, when compared with the last four-quarter average of 1,093 contracts.


Upstream oil and gas contracts in Q2 2022

Europe led the contracts activity for upstream segment, with 381 contracts and a 37% share in Q2 2022, followed by North America and Asia-Pacific with 285 (28%) and 198 (19%) contracts, respectively.


Contracts by scope of work in upstream segment in Q2 2022

During the quarter, the majority of contracts in the upstream segment were awarded in the operations & maintenance with 685 contracts, followed by procurement and design & engineering with 248 and 142 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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