A total of 1,551 contracts have been awarded in the oil and gas sector globally in Q3 2022, marking a decrease of 11% when compared with 1,752 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 13%, when compared with the last four-quarter average of 1,792 contracts.
Oil and gas contracts activity by region in Q3 2022
By comparing contracts activity in different regions of the globe, Europe held the top position with 509 contracts and a 33% share in Q3 2022, followed by North America and Asia-Pacific with 419 (27%) and 405 (26%) contracts, respectively.
In fourth place was Middle East with 98 contracts and a 6% share.
Based on five-quarter moving average, Europe took a lead over others with 607 contracts, followed by Asia-Pacific with 503 contracts.
Upstream segment tops contracts activity in Q3 2022
Looking at contracts by segment, upstream accounted for the largest proportion with 1,102 contracts and a 71% share, followed by midstream with 183 contracts and a 12% share.
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.