The upstream segment contracts in Europe registered an increase of 48% with 198 contracts in February 2022, when compared with the previous month’s total of 134 contracts, according to GlobalData’s oil and gas contracts database.
A total of 198 contracts were registered in the upstream segment of Europe during the month, when compared with the last 12-month moving average of 163 contracts.
In terms of the number of contracts in Europe, the upstream segment contributed the most with 198 contracts in February 2022, followed by midstream and downstream segments with 14 and five contracts, respectively.
Contract award activity in Europe’s upstream segment during February 2022
In February 2022, the UK led the activity with 83 contracts and a 42% share of the upstream oil and gas contracts in Europe. It saw an increase of 36% over the previous month’s total of 61 contracts and an increase of 24% when compared with the last 12 month-average of 67 contracts in the UK.
In second place was Norway with 78 contracts and a 39% share, followed by Russia with 21 contracts and an 11% share.
Based on 12-month moving average of the contracts in the upstream segment of Europe, the UK took the top spot with 69 contracts, followed by Norway and Russia with 60 and 16 contracts, respectively.
Contracts by scope of work in Europe’s upstream segment during February 2022
During the month, the majority of upstream segment contracts awarded in the Europe were in the operations & maintenance with 171 contracts, followed by procurement and design & engineering with 16 and 13 contracts, respectively.
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.