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January 11, 2022

Contract activities in midstream segment in Asia-Pacific up 10% in December 2021

By Carmen

The midstream segment contracts in Asia-Pacific registered an increase of 10% with 22 contracts in December 2021, when compared with the previous month’s total of 20 contracts, according to GlobalData’s oil and gas contracts database.

A total of 22 contracts were registered in the midstream segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 27 contracts.


In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 41 contracts in December 2021, followed by midstream and downstream segments with 22 and 16 contracts, respectively.


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

In December 2021, South Korea led the activity with seven contracts and a 32% share of the midstream oil and gas contracts in Asia-Pacific. It saw a flat growth over the previous month’s total of seven contracts and a decrease of 13% when compared with the last 12 month-average of eight contracts in South Korea.

In second place was Australia with four contracts and an 18% share, followed by India with three contracts and a 14% share.

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

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

During the month, the majority of midstream segment contracts awarded in the Asia-Pacific were in the procurement with 11 contracts, followed by design & engineering and operations & maintenance with eight 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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