The midstream segment contracts in Asia-Pacific registered a decrease of 38% with 34 contracts in April 2022, when compared with the previous month’s total of 55 contracts, according to GlobalData’s oil and gas contracts database.
A total of 34 contracts were registered in the midstream segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 32 contracts.
In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 67 contracts in April 2022, followed by midstream and petrochemicals segments with 34 and 17 contracts, respectively.
Contract award activity in Asia-Pacific’s midstream segment during April 2022
In April 2022, South Korea led the activity with 11 contracts and a 32% share of the midstream oil and gas contracts in Asia-Pacific. It saw a decrease of 31% over the previous month’s total of 16 contracts and an increase of 38% when compared with the last 12 month-average of eight contracts in South Korea.
In second place was China with nine contracts and a 26% share, followed by Japan with four contracts and a 12% share.
Based on 12-month moving average of the contracts in the midstream segment of Asia-Pacific, China took the top spot with nine contracts, followed by South Korea and Australia with eight and four contracts, respectively.
Contracts by scope of work in Asia-Pacific’s midstream segment during April 2022
During the month, the majority of midstream segment contracts awarded in the Asia-Pacific were in the construction with 15 contracts, followed by design & engineering and procurement with 11 contracts each.
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.