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  1. Market Data
January 11, 2022

Contract activities in upstream segment in Europe up 25% in December 2021

By Carmen

The upstream segment contracts in Europe registered an increase of 25% with 162 contracts in December 2021, when compared with the previous month’s total of 130 contracts, according to GlobalData’s oil and gas contracts database.

A total of 162 contracts were registered in the upstream segment of Europe during the month, remained flat when compared with the last 12-month average contracts.


In terms of the number of contracts in Europe, the upstream segment contributed the most with 162 contracts in December 2021, followed by midstream and downstream segments with 14 and six contracts, respectively.


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

In December 2021, Norway and the UK led the activity with 70 contracts and a 43% share each of the upstream oil and gas contracts in Europe. It saw an increase of 63% over the previous month’s total of 43 contracts and an increase of 15% when compared with the last 12 month-average of 61 contracts in Norway, followed by Russia with seven contracts and a 4% share, followed by Russia with seven contracts and a 4% share.

Based on 12-month moving average of the contracts in the upstream segment of Europe, the UK took the top spot with 65 contracts, followed by Norway and Russia with 60 and 16 contracts, respectively.

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

During the month, the majority of upstream segment contracts awarded in the Europe were in the operations & maintenance with 126 contracts, followed by design & engineering and procurement with 26 and 21 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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