The upstream segment contracts in Europe registered an increase of 1% with 406 contracts in Q3 2022, when compared with the previous quarter’s total of 402 contracts, according to GlobalData ’s oil and gas contracts database.

A total of 406 contracts were registered in the upstream segment of Europe during the quarter, when compared with the last four-quarter moving average of 479 contracts.


In terms of the number of contracts in Europe, the upstream segment contributed the most with 406 contracts in Q3 2022, followed by midstream and carbon capture segments with 51 and 10 contracts, respectively.


Contract award activity in Europe’s upstream segment during Q3 2022

Looking at the total oil and gas contracts by country in the upstream segment of Europe, Norway led the activity in Q3 2022 with 210 contracts and a 52% share. It saw an increase of 38% over the previous quarter’s total of 152 contracts and an increase of 15% when compared with the last four-quarter-average of 183 contracts in Norway.

In second place was the UK with 77 contracts and a 19% share, followed by Russia with 58 contracts and a 14% share.

Based on five-quarter moving average of the contracts in the upstream segment of Europe, Norway took the top spot with 188 contracts, followed by the UK and Russia with 171 and 52 contracts, respectively.

Contracts by scope of work in Europe’s upstream segment during Q3 2022

During the quarter, the majority of upstream segment contracts awarded in the Europe were in the operations & maintenance with 329 contracts, followed by procurement and design & engineering with 58 and 42 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.