The midstream segment contracts in Asia-Pacific registered a decrease of 20% with 95 contracts in Q2 2022, when compared with the previous quarter’s total of 119 contracts, according to GlobalData’s oil and gas contracts database.
A total of 95 contracts were registered in the midstream segment of Asia-Pacific during the quarter, when compared with the last four-quarter moving average of 96 contracts.
In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 198 contracts in Q2 2022, followed by midstream and petrochemicals segments with 95 and 38 contracts, respectively.
Contract award activity in Asia-Pacific’s midstream segment during Q2 2022
Looking at the total oil and gas contracts by country in the midstream segment of Asia-Pacific, South Korea led the activity in Q2 2022 with 33 contracts and a 35% share. It saw an increase of 38% over the previous quarter’s total of 24 contracts and an increase of 32% when compared with the last four-quarter-average of 25 contracts in South Korea.
In second place was China with 31 contracts and a 33% share, followed by India with eight contracts and an 8% share.
Based on five-quarter moving average of the contracts in the midstream segment of Asia-Pacific, China took the top spot with 28 contracts, followed by South Korea and Australia with 26 and nine contracts, respectively.
Contracts by scope of work in Asia-Pacific’s midstream segment during Q2 2022
During the quarter, the majority of midstream segment contracts awarded in the Asia-Pacific were in the construction with 39 contracts, followed by design & engineering and procurement with 33 and 32 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.