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  1. Market Data
November 12, 2021

Contract activities in upstream segment in Europe down 34% in October 2021

By Carmen

The upstream segment contracts in Europe registered a decrease of 34% with 123 contracts in October 2021, when compared with the previous month’s total of 187 contracts, according to GlobalData’s oil and gas contracts database.

A total of 123 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 123 contracts in October 2021, followed by midstream and downstream segments with 24 and 13 contracts, respectively.


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

In October 2021, the UK led the activity with 58 contracts and a 47% share of the upstream oil and gas contracts in Europe. It saw a decrease of 8% over the previous month’s total of 63 contracts and a decrease of 11% when compared with the last 12 month-average of 65 contracts in the UK.

In second place was Norway with 38 contracts and a 31% share, followed by Russia with 18 contracts and a 15% share.

Based on 12-month moving average of the contracts in the upstream segment of Europe, the UK took the top spot with 66 contracts, followed by Norway and Russia with 61 and 18 contracts, respectively.

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

During the month, the majority of upstream segment contracts awarded in the Europe were in the operations & maintenance with 95 contracts, followed by procurement and design & engineering with 20 and 13 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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