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September 29, 2021updated 05 Oct 2021 1:59pm

Contract activities in midstream segment in Asia-Pacific down 41% in August 2021

By Carmen

The midstream segment contracts in Asia-Pacific registered a decrease of 41% with 17 contracts in August 2021, when compared with the previous month’s total of 29 contracts, according to GlobalData’s oil and gas contracts database.

A total of 17 contracts were registered in the midstream segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 29 contracts.

 

In terms of the number of contracts in Asia-Pacific, the downstream and upstream segment contributed the most with 40 contracts each in August 2021, followed by midstream with 17 contracts.

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Contract award activity in Asia-Pacific’s midstream segment during August 2021

In August 2021, China led the activity with five contracts and a 29% share of the midstream oil and gas contracts in Asia-Pacific. It saw an increase of 25% over the previous month’s total of four contracts and a decrease of 17% when compared with the last 12 month-average of six contracts in China.

Based on 12-month moving average of the contracts in the midstream segment of Asia-Pacific, South Korea took the top spot with eight contracts, followed by China and India with six and four contracts, respectively.

Contracts by scope of work in Asia-Pacific’s midstream segment during August 2021

During the month, the majority of midstream segment contracts awarded in the Asia-Pacific were in the construction with eight contracts, followed by procurement with eight contracts.

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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