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  1. Market Data
March 21, 2022

Contract activities in downstream segment in Asia-Pacific down 27% in February 2022

By Carmen

The downstream segment contracts in Asia-Pacific registered a decrease of 27% with 11 contracts in February 2022, when compared with the previous month’s total of 15 contracts, according to GlobalData’s oil and gas contracts database.

A total of 11 contracts were registered in the downstream segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 42 contracts.


In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 79 contracts in February 2022, followed by midstream and downstream segments with 24 and 11 contracts, respectively.


Contract award activity in Asia-Pacific’s downstream segment during February 2022

In February 2022, India led the activity with nine contracts and an 82% share of the downstream oil and gas contracts in Asia-Pacific. It saw a decrease of 18% over the previous month’s total of 11 contracts and a decrease of 75% when compared with the last 12 month-average of 36 contracts in India, followed by Australia and China with one contract 9% share each.

Based on 12-month moving average of the contracts in the downstream segment of Asia-Pacific, India took the top spot with 31 contracts, followed by China and Australia with three and one contract, respectively.

Contracts by scope of work in Asia-Pacific’s downstream segment during February 2022

During the month, the majority of downstream segment contracts awarded in the Asia-Pacific were in the procurement with seven contracts, followed by design & engineering and operations & maintenance with four and three 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.

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