Offshore oil and gas contracts registered a decrease of 15% in October 2022 with a total of 221 contracts, when compared with 260 contracts in the previous month, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 16%, when compared with an average of 262 contracts over the last 12 months.
Upstream segment had the majority of contracts in the offshore terrain with 205 contracts and a 93% share, followed by midstream with 19 contracts.
Offshore oil and gas contracts activity by region in October 2022
Europe led the offshore contracts activity with 124 contracts and a 56% share in October 2022, followed by Asia-Pacific and Middle East with 44 (20%) and 19 (9%) contracts, respectively.
Offshore contracts by scope of work in October 2022
During the month, the majority of contracts in the offshore were awarded in the operations & maintenance with 149 contracts, followed by procurement and design & engineering with 50 and 36 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.
