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September 29, 2021updated 05 Oct 2021 3:19pm

Contract activities in upstream segment in Europe down 6% in August 2021

By Carmen

The upstream segment contracts in Europe registered a decrease of 6% with 136 contracts in August 2021, when compared with the previous month’s total of 144 contracts, according to GlobalData’s oil and gas contracts database.

A total of 136 contracts were registered in the upstream segment of Europe during the month, when compared with the last 12-month moving average of 160 contracts.

 

In terms of the number of contracts in Europe, the upstream segment contributed the most with 136 contracts in August 2021, followed by midstream and downstream segments with 15 and 13 contracts, respectively.

 

Contract award activity in Europe’s upstream segment during August 2021

In August 2021, the UK led the activity with 53 contracts and a 39% share of the upstream oil and gas contracts in Europe. It saw a decrease of 17% over the previous month’s total of 64 contracts and a decrease of 17% when compared with the last 12 month-average of 64 contracts in the UK.

In second place was Norway with 52 contracts and a 38% share, followed by Russia with 13 contracts and a 10% share.

Based on 12-month moving average of the contracts in the upstream segment of Europe, the UK took the top spot with 64 contracts, followed by Norway and Russia with 59 and 20 contracts, respectively.

Contracts by scope of work in Europe’s upstream segment during August 2021

During the month, the majority of upstream segment contracts awarded in the Europe were in the operations & maintenance with 102 contracts, followed by design & engineering with 28 contracts.

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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