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  1. Market Data
April 13, 2022

Contract activities in downstream segment in Asia-Pacific down 50% in Q1 2022

By Carmen

The downstream segment contracts in Asia-Pacific registered a decrease of 50% with 52 contracts in Q1 2022, when compared with the previous quarter’s total of 103 contracts, according to GlobalData’s oil and gas contracts database.

A total of 52 contracts were registered in the downstream segment of Asia-Pacific during the quarter, when compared with the last four-quarter moving average of 134 contracts.


In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 239 contracts in Q1 2022, followed by midstream and downstream segments with 122 and 52 contracts, respectively.


Contract award activity in Asia-Pacific’s downstream segment during Q1 2022

Looking at the total oil and gas contracts by country in the downstream segment of Asia-Pacific, India led the activity in Q1 2022 with 35 contracts and a 67% share. It saw a decrease of 61% over the previous quarter’s total of 89 contracts and a decrease of 70% when compared with the last four-quarter-average of 116 contracts in India.

In second place was China with seven contracts and a 13% share, followed by Australia with three contracts and a 6% share.

Based on five-quarter moving average of the contracts in the downstream segment of Asia-Pacific, India took the top spot with 100 contracts, followed by China and Australia with eight and three contracts, respectively.

Contracts by scope of work in Asia-Pacific’s downstream segment during Q1 2022

During the quarter, the majority of downstream segment contracts awarded in the Asia-Pacific were in the procurement with 26 contracts, followed by design & engineering and operations & maintenance with 19 and 17 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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