Oil and gas contracts in Europe registered a decrease of 2% in November 2022 with 178 contracts, when compared with 182 contracts in the previous month, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 11%, when compared with the last 12-month average of 199 contracts.
Contract award activity in Europe during November 2022
Looking at contracts by country, Norway led the activity in November 2022 with 83 contracts representing a 47% share of all the oil and gas contracts, followed by the UK with 31 contracts and a 17% share and Russia with 24 contracts and a 13% share. It saw a decrease of 2% over the previous month’s total of 85 contracts and an increase of 19% when compared with the last 12 month-average 70 contracts in Norway.
Based on 12-month moving average, Norway took the top spot with 73 contracts, followed by the UK and Russia with 56 and 27 contracts, respectively.
Europe’s oil and gas contracts by segment in November 2022
Looking at oil and gas contracts by segment in Europe, upstream segment contributed the most in terms of the contracts awarded, with 143 contracts in November 2022, followed by midstream and downstream with 19 and seven contracts, respectively.
Contracts by scope of work in Europe during November 2022
During November 2022, the majority of the contracts awarded were in the operations & maintenance space with 129 contracts, followed by procurement and design & engineering with 36 and 25 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.
