The midstream segment contracts in Asia-Pacific registered a decrease of 24% with 75 contracts in Q3 2022, when compared with the previous quarter’s total of 99 contracts, according to GlobalData ’s oil and gas contracts database.

A total of 75 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 148 contracts in Q3 2022, followed by downstream and midstream segments with 137 and 75 contracts, respectively.


Contract award activity in Asia-Pacific’s midstream segment during Q3 2022

Looking at the total oil and gas contracts by country in the midstream segment of Asia-Pacific, South Korea led the activity in Q3 2022 with 27 contracts and a 36% share. It saw a decrease of 21% over the previous quarter’s total of 34 contracts and an increase of 8% when compared with the last four-quarter-average of 25 contracts in South Korea.

In second place was China with 15 contracts and a 20% share, followed by India with seven contracts and a 9% share.

Based on five-quarter moving average of the contracts in the midstream segment of Asia-Pacific, China took the top spot with 27 contracts, followed by South Korea and Australia with 25 and nine contracts, respectively.

Contracts by scope of work in Asia-Pacific’s midstream segment during Q3 2022

During the quarter, the majority of midstream segment contracts awarded in the Asia-Pacific were in the construction with 32 contracts, followed by procurement and design & engineering with 28 and 18 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.