Oil and gas contracts in Europe registered an increase of 8% in September 2022 with 188 contracts, when compared with 174 contracts in the previous month, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 7%, when compared with the last 12-month average of 203 contracts.
Contract award activity in Europe during September 2022
Looking at contracts by country, Norway led the activity in September 2022 with 83 contracts representing a 44% share of all the oil and gas contracts, followed by Russia with 26 contracts and a 14% share and the UK with 25 contracts and a 13% share. It saw an increase of 4% over the previous month’s total of 80 contracts and an increase of 26% when compared with the last 12 month-average 66 contracts in Norway.
Based on 12-month moving average, Norway took the top spot with 66 contracts, followed by the UK and Russia with 60 and 26 contracts, respectively.
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Europe’s oil and gas contracts by segment in September 2022
Looking at oil and gas contracts by segment in Europe, upstream segment contributed the most in terms of the contracts awarded, with 142 contracts in September 2022, followed by midstream and carbon capture with 19 and four contracts, respectively.
Contracts by scope of work in Europe during September 2022
During September 2022, the majority of the contracts awarded were in the operations & maintenance space with 132 contracts, followed by procurement and design & engineering with 38 and 32 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.