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September 29, 2021updated 06 Oct 2021 4:56pm

Contract activities in midstream segment in Asia-Pacific up 22% in Q2 2021

By Carmen

The midstream segment contracts in Asia-Pacific registered an increase of 22% with 94 contracts in Q2 2021, when compared with the previous quarter’s total of 77 contracts, according to GlobalData’s oil and gas contracts database.

A total of 94 contracts were registered in the midstream segment of Asia-Pacific during the quarter, when compared with the last four-quarter moving average of 75 contracts.

 

In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 147 contracts in Q2 2021, followed by downstream and midstream segments with 125 and 94 contracts, respectively.

 

Contract award activity in Asia-Pacific’s midstream segment during Q2 2021

Looking at the total oil and gas contracts by country in the midstream segment of Asia-Pacific, South Korea led the activity in Q2 2021 with 33 contracts and a 35% share. It saw an increase of 74% over the previous quarter’s total of 19 contracts and an increase of 94% when compared with the last four-quarter-average of 17 contracts in South Korea.

In second place was China with 21 contracts and a 22% share, followed by India with nine contracts and a 10% share.

Based on five-quarter moving average of the contracts in the midstream segment of Asia-Pacific, South Korea took the top spot with 20 contracts, followed by China and India with 18 and 11 contracts, respectively.

Contracts by scope of work in Asia-Pacific’s midstream segment during Q2 2021

During the quarter, the majority of midstream segment contracts awarded in the Asia-Pacific were in the construction with 41 contracts, followed by procurement with 38 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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