The midstream segment contracts in Asia-Pacific registered an increase of 17% with 41 contracts in October 2022, when compared with the previous month’s total of 35 contracts, according to GlobalData’s oil and gas contracts database.

A total of 41 contracts were registered in the midstream segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 31 contracts.


In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 43 contracts in October 2022, followed by midstream and petrochemicals segments with 41 and four contracts, respectively.


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

In October 2022, China led the activity with 13 contracts and a 32% share of the midstream oil and gas contracts in Asia-Pacific. It saw an increase of 44% over the previous month’s total of nine contracts and an increase of 30% when compared with the last 12 month-average of 10 contracts in China.

In second place was South Korea with nine contracts and a 22% share, followed by Australia with five contracts and a 12% 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 nine and three contracts, respectively.

Contracts by scope of work in Asia-Pacific’s midstream segment during October 2022

During the month, the majority of midstream segment contracts awarded in the Asia-Pacific were in the procurement with 18 contracts, followed by design & engineering and construction with 15 and 11 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.