The midstream segment contracts in Asia-Pacific registered a decrease of 36% with 23 contracts in May 2022, when compared with the previous month’s total of 36 contracts, according to GlobalData’s oil and gas contracts database.
A total of 23 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 68 contracts in May 2022, followed by midstream and downstream segments with 23 and 13 contracts, respectively.
Contract award activity in Asia-Pacific’s midstream segment during May 2022
In May 2022, China led the activity with eight contracts and a 35% share of the midstream oil and gas contracts in Asia-Pacific. It saw a decrease of 20% over the previous month’s total of 10 contracts and a decrease of 11% when compared with the last 12 month-average of nine contracts in China.
In second place was South Korea with six contracts and a 26% share, followed by India with four contracts and a 17% share.
Based on 12-month moving average of the contracts in the midstream segment of Asia-Pacific, China took the top spot with nine 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 May 2022
During the month, the majority of midstream segment contracts awarded in the Asia-Pacific were in the construction with 12 contracts, followed by procurement and design & engineering with seven and six 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.