The midstream segment contracts in Asia-Pacific registered an increase of 67% with 122 contracts in Q1 2022, when compared with the previous quarter’s total of 73 contracts, according to GlobalData’s oil and gas contracts database.
A total of 122 contracts were registered in the midstream segment of Asia-Pacific during the quarter, when compared with the last four-quarter moving average of 85 contracts.
In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 239 contracts in Q1 2022, followed by midstream and downstream segments with 122 and 52 contracts, respectively.
Contract award activity in Asia-Pacific’s midstream segment during Q1 2022
Looking at the total oil and gas contracts by country in the midstream segment of Asia-Pacific, China led the activity in Q1 2022 with 64 contracts and a 52% share. It saw an increase of 482% over the previous quarter’s total of 11 contracts and an increase of 276% when compared with the last four-quarter-average of 17 contracts in China.
In second place was South Korea with 22 contracts and an 18% share, followed by Australia with nine contracts and a 7% share.
Based on five-quarter moving average of the contracts in the midstream segment of Asia-Pacific, China took the top spot with 26 contracts, followed by South Korea and Australia with 23 and 10 contracts, respectively.
Contracts by scope of work in Asia-Pacific’s midstream segment during Q1 2022
During the quarter, the majority of midstream segment contracts awarded in the Asia-Pacific were in the procurement with 53 contracts, followed by construction and design & engineering with 36 and 29 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.