The upstream segment contracts in Europe registered an increase of 20% with 140 contracts in August 2022, when compared with the previous month’s total of 117 contracts, according to GlobalData’s oil and gas contracts database.
A total of 140 contracts were registered in the upstream segment of Europe during the month, when compared with the last 12-month moving average of 156 contracts.
In terms of the number of contracts in Europe, the upstream segment contributed the most with 140 contracts in August 2022, followed by midstream and petrochemicals segments with 16 and six contracts, respectively.
Contract award activity in Europe’s upstream segment during August 2022
In August 2022, Norway led the activity with 78 contracts and a 56% share of the upstream oil and gas contracts in Europe. It saw an increase of 53% over the previous month’s total of 51 contracts and an increase of 30% when compared with the last 12 month-average of 60 contracts in Norway.
In second place was the UK with 26 contracts and a 19% share, followed by Russia with 13 contracts and a 9% share.
Based on 12-month moving average of the contracts in the upstream segment of Europe, Norway took the top spot with 62 contracts, followed by the UK and Russia with 59 and 18 contracts, respectively.
Contracts by scope of work in Europe’s upstream segment during August 2022
During the month, the majority of upstream segment contracts awarded in the Europe were in the operations & maintenance with 105 contracts, followed by procurement and design & engineering with 22 and 17 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.