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  1. Market Data
January 11, 2022

Upstream oil and gas contracts down 11% in Q4 2021

By Carmen

Contracts in the upstream oil and gas segment registered a decrease of 11% with 909 contracts in Q4 2021, when compared with 1,024 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 10%, when compared with the last four-quarter average of 1,015 contracts.


Upstream oil and gas contracts in Q4 2021

Europe led the contracts activity for upstream segment, with 420 contracts and a 46% share in Q4 2021, followed by North America and Asia-Pacific with 188 (21%) and 131 (14%) contracts, respectively.


Contracts by scope of work in upstream segment in Q4 2021

During the quarter, the majority of contracts in the upstream segment were awarded in the operations & maintenance with 626 contracts, followed by procurement and design & engineering with 204 and 154 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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