The midstream segment contracts in Asia-Pacific registered an increase of 123% with 58 contracts in March 2022, when compared with the previous month’s total of 26 contracts, according to GlobalData’s oil and gas contracts database.
A total of 58 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 71 contracts in March 2022, followed by midstream and downstream segments with 58 and 11 contracts, respectively.
Contract award activity in Asia-Pacific’s midstream segment during March 2022
In March 2022, China led the activity with 32 contracts and a 55% share of the midstream oil and gas contracts in Asia-Pacific. It saw an increase of 146% over the previous month’s total of 13 contracts and an increase of 300% when compared with the last 12 month-average of eight contracts in China.
In second place was South Korea with 14 contracts and a 24% share, followed by Uzbekistan with three contracts and a 5% 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 March 2022
During the month, the majority of midstream segment contracts awarded in the Asia-Pacific were in the procurement with 31 contracts, followed by design & engineering and construction with 13 and 12 contracts, respectively.
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.