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July 14, 2022

Contract activities in midstream segment in Asia-Pacific up 52% in June 2022

By Carmen

The midstream segment contracts in Asia-Pacific registered an increase of 52% with 35 contracts in June 2022, when compared with the previous month’s total of 23 contracts, according to GlobalData’s oil and gas contracts database.

A total of 35 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 53 contracts in June 2022, followed by midstream and petrochemicals segments with 35 and 10 contracts, respectively.


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

In June 2022, South Korea led the activity with 15 contracts and a 43% share of the midstream oil and gas contracts in Asia-Pacific. It saw an increase of 150% over the previous month’s total of six contracts and an increase of 88% when compared with the last 12 month-average of eight contracts in South Korea.

In second place was China with 12 contracts and a 34% share, followed by Australia with two contracts and a 6% 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 June 2022

During the month, the majority of midstream segment contracts awarded in the Asia-Pacific were in the design & engineering with 15 contracts, followed by procurement and construction with 13 and 12 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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