The upstream segment contracts in Europe registered a decrease of 26% with 100 contracts in June 2022, when compared with the previous month’s total of 136 contracts, according to GlobalData’s oil and gas contracts database.
A total of 100 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 100 contracts in June 2022, followed by midstream and petrochemicals segments with 15 and five contracts, respectively.
Contract award activity in Europe’s upstream segment during June 2022
In June 2022, Norway led the activity with 40 contracts and a 40% share of the upstream oil and gas contracts in Europe. It saw a decrease of 26% over the previous month’s total of 54 contracts and a decrease of 34% when compared with the last 12 month-average of 61 contracts in Norway.
In second place was the UK with 34 contracts and a 34% share, followed by Russia with 13 contracts and a 13% 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 60 and 16 contracts, respectively.
Contracts by scope of work in Europe’s upstream segment during June 2022
During the month, the majority of upstream segment contracts awarded in the Europe were in the operations & maintenance with 76 contracts, followed by procurement and design & engineering with 18 and nine 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.