The upstream segment contracts in Europe registered a decrease of 6% with 136 contracts in May 2022, when compared with the previous month’s total of 145 contracts, according to GlobalData’s oil and gas contracts database.
A total of 136 contracts were registered in the upstream segment of Europe during the month, when compared with the last 12-month moving average of 165 contracts.
In terms of the number of contracts in Europe, the upstream segment contributed the most with 136 contracts in May 2022, followed by midstream and downstream segments with 17 and eight contracts, respectively.
Contract award activity in Europe’s upstream segment during May 2022
In May 2022, Norway led the activity with 54 contracts and a 40% share of the upstream oil and gas contracts in Europe. It saw an increase of 6% over the previous month’s total of 51 contracts and a decrease of 11% when compared with the last 12 month-average of 61 contracts in Norway.
In second place was the UK with 52 contracts and a 38% share, followed by Russia with 15 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 68 contracts, followed by Norway and Russia with 61 and 17 contracts, respectively.
Contracts by scope of work in Europe’s upstream segment during May 2022
During the month, the majority of upstream segment contracts awarded in the Europe were in the operations & maintenance with 109 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.