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November 12, 2021

Contract activities in midstream segment in Asia-Pacific down 39% in October 2021

By Carmen

The midstream segment contracts in Asia-Pacific registered a decrease of 39% with 17 contracts in October 2021, when compared with the previous month’s total of 28 contracts, according to GlobalData’s oil and gas contracts database.

A total of 17 contracts were registered in the midstream segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 27 contracts.


In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 43 contracts in October 2021, followed by midstream and downstream segments with 17 and six contracts, respectively.


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Contract award activity in Asia-Pacific’s midstream segment during October 2021

In October 2021, South Korea led the activity with seven contracts and a 41% share of the midstream oil and gas contracts in Asia-Pacific. It saw an increase of 17% over the previous month’s total of six contracts and a decrease of 13% when compared with the last 12 month-average of eight contracts in South Korea.

In second place was Australia with three contracts and an 18% share, followed by India with two contracts and a 12% share.

Based on 12-month moving average of the contracts in the midstream segment of Asia-Pacific, South Korea took the top spot with eight contracts, followed by China and Australia with five and three contracts, respectively.

Contracts by scope of work in Asia-Pacific’s midstream segment during October 2021

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

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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