Oil and gas contracts in Europe registered a decrease of 30% in October 2021 with 169 contracts, when compared with 241 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

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The activity marked a decrease of 21%, when compared with the last 12-month average of 213 contracts.


Contract award activity in Europe during October 2021

Looking at contracts by country, the UK led the activity in October 2021 with 63 contracts representing a 37% share of all the oil and gas contracts, followed by Norway with 41 contracts and a 24% share and Russia with 30 contracts and an 18% share. It saw a decrease of 9% over the previous month’s total of 69 contracts and a decrease of 9% when compared with the last 12 month-average 69 contracts in the UK.

Based on 12-month moving average, the UK took the top spot with 71 contracts, followed by Norway and Russia with 65 and 31 contracts, respectively.

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Europe’s oil and gas contracts by segment in October 2021

Looking at oil and gas contracts by segment in Europe, upstream segment contributed the most in terms of the contracts awarded, with 123 contracts in October 2021, followed by midstream and downstream with 24 and 13 contracts, respectively.

Contracts by scope of work in Europe during October 2021

During October 2021, the majority of the contracts awarded were in the operations & maintenance space with 104 contracts, followed by design & engineering and procurement with 39 and 35 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.