The midstream segment contracts in Asia-Pacific registered a decrease of 21% with 61 contracts in Q4 2021, when compared with the previous quarter’s total of 77 contracts, according to GlobalData’s oil and gas contracts database.
A total of 61 contracts were registered in the midstream segment of Asia-Pacific during the quarter, when compared with the last four-quarter moving average of 82 contracts.
In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 131 contracts in Q4 2021, followed by downstream and midstream segments with 61 contracts each.
Contract award activity in Asia-Pacific’s midstream segment during Q4 2021
Looking at the total oil and gas contracts by country in the midstream segment of Asia-Pacific, South Korea led the activity in Q4 2021 with 21 contracts and a 34% share. It saw an increase of 31% over the previous quarter’s total of 16 contracts and a decrease of 13% when compared with the last four-quarter-average of 24 contracts in South Korea.
In second place was Australia with 11 contracts and an 18% share, followed by India with eight contracts and a 13% share.
Based on five-quarter moving average of the contracts in the midstream segment of Asia-Pacific, South Korea took the top spot with 23 contracts, followed by China and India with 14 and 11 contracts, respectively.
Contracts by scope of work in Asia-Pacific’s midstream segment during Q4 2021
During the quarter, the majority of midstream segment contracts awarded in the Asia-Pacific were in the procurement with 25 contracts, followed by design & engineering and construction with 24 and 23 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.