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  1. Market Data
December 14, 2021

Contract activities in upstream segment in Europe down 3% in November 2021

By Carmen

The upstream segment contracts in Europe registered a decrease of 3% with 122 contracts in November 2021, when compared with the previous month’s total of 126 contracts, according to GlobalData’s oil and gas contracts database.

A total of 122 contracts were registered in the upstream segment of Europe during the month, when compared with the last 12-month moving average of 164 contracts.


In terms of the number of contracts in Europe, the upstream segment contributed the most with 122 contracts in November 2021, followed by midstream and downstream segments with 14 and seven contracts, respectively.


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

In November 2021, the UK led the activity with 58 contracts and a 48% share of the upstream oil and gas contracts in Europe. It saw a flat growth over the previous month’s total of 58 contracts and a decrease of 12% when compared with the last 12 month-average of 66 contracts in the UK.

In second place was Norway with 42 contracts and a 34% share, followed by the Netherlands with seven contracts and a 6% 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 61 and 18 contracts, respectively.

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

During the month, the majority of upstream segment contracts awarded in the Europe were in the operations & maintenance with 92 contracts, followed by design & engineering and procurement with 17 and 10 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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