The midstream segment contracts in Asia-Pacific registered a decrease of 20% with 33 contracts in November 2022, when compared with the previous month’s total of 41 contracts, according to GlobalData’s oil and gas contracts database.
A total of 33 contracts were registered in the midstream segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 34 contracts.
In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 46 contracts in November 2022, followed by midstream and petrochemicals segments with 33 and 14 contracts, respectively.
Contract award activity in Asia-Pacific’s midstream segment during November 2022
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In November 2022, China and South Korea led the activity with 10 contracts and a 30% share each of the midstream oil and gas contracts in Asia-Pacific. It saw a decrease of 23% over the previous month’s total of 13 contracts and a decrease of 9% when compared with the last 12 month-average of 11 contracts in China, followed by Malaysia with three contracts and a 9% share, followed by Malaysia with three contracts and a 9% share.
Based on 12-month moving average of the contracts in the midstream segment of Asia-Pacific, China took the top spot with 11 contracts, followed by South Korea and Australia with 10 and three contracts, respectively.
Contracts by scope of work in Asia-Pacific’s midstream segment during November 2022
During the month, the majority of midstream segment contracts awarded in the Asia-Pacific were in the construction with 14 contracts, followed by design & engineering and operations & maintenance with 11 and seven 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.