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  1. Market Data
August 22, 2022

Contract activities in midstream segment in Asia-Pacific down 56% in July 2022

By Carmen

The midstream segment contracts in Asia-Pacific registered a decrease of 56% with 16 contracts in July 2022, when compared with the previous month’s total of 36 contracts, according to GlobalData’s oil and gas contracts database.

A total of 16 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.



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

In July 2022, South Korea led the activity with seven contracts and a 44% share of the midstream oil and gas contracts in Asia-Pacific. It saw a decrease of 56% over the previous month’s total of 16 contracts and a decrease of 13% when compared with the last 12 month-average of eight contracts in South Korea.

In second place was China with three contracts and a 19% share, followed by India with two contracts and a 13% 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 eight and three contracts, respectively.

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

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 construction 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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