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  1. Market Data
September 15, 2022

Contract activities in midstream segment in Asia-Pacific up 24% in August 2022

By Carmen

The midstream segment contracts in Asia-Pacific registered an increase of 24% with 21 contracts in August 2022, when compared with the previous month’s total of 17 contracts, according to GlobalData’s oil and gas contracts database.

A total of 21 contracts were registered in the midstream segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 30 contracts.


In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 43 contracts in August 2022, followed by downstream and midstream segments with 21 contracts each.


Contract award activity in Asia-Pacific’s midstream segment during August 2022

In August 2022, South Korea led the activity with eight contracts and a 38% share of the midstream oil and gas contracts in Asia-Pacific. It saw an increase of 14% over the previous month’s total of seven contracts and a flat growth when compared with the last 12 month-average of eight contracts in South Korea.

In second place was Malaysia with four contracts and a 19% share, followed by China with three contracts and a 14% share.

Based on 12-month moving average of the contracts in the midstream segment of Asia-Pacific, China took the top spot with 10 contracts, followed by South Korea and Australia with nine and three contracts, respectively.

Contracts by scope of work in Asia-Pacific’s midstream segment during August 2022

During the month, the majority of midstream segment contracts awarded in the Asia-Pacific were in the construction with eight contracts, followed by operations & maintenance and procurement with seven and six 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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