The upstream segment contracts in Europe registered an increase of 1% with 113 contracts in July 2022, when compared with the previous month’s total of 112 contracts, according to GlobalData’s oil and gas contracts database.
A total of 113 contracts were registered in the upstream segment of Europe during the month, when compared with the last 12-month moving average of 159 contracts.
In terms of the number of contracts in Europe, the upstream segment contributed the most with 113 contracts in July 2022, followed by midstream and carbon capture segments with 15 and four contracts, respectively.
Contract award activity in Europe’s upstream segment during July 2022
In July 2022, Norway led the activity with 51 contracts and a 45% share of the upstream oil and gas contracts in Europe. It saw an increase of 11% over the previous month’s total of 46 contracts and a decrease of 16% when compared with the last 12 month-average of 61 contracts in Norway.
In second place was the UK with 28 contracts and a 25% share, followed by Russia with 23 contracts and a 20% share.
Based on 12-month moving average of the contracts in the upstream segment of Europe, the UK took the top spot with 61 contracts, followed by Norway and Russia with 60 and 18 contracts, respectively.
Contracts by scope of work in Europe’s upstream segment during July 2022
During the month, the majority of upstream segment contracts awarded in the Europe were in the operations & maintenance with 92 contracts, followed by procurement and design & engineering with 18 and 10 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.