The midstream segment contracts in Asia-Pacific registered an increase of 46% with 35 contracts in September 2022, when compared with the previous month’s total of 24 contracts, according to GlobalData ’s oil and gas contracts database.
A total of 35 contracts were registered in the midstream segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 31 contracts.
In terms of the number of contracts in Asia-Pacific, the midstream segment contributed the most with 35 contracts in September 2022, followed by upstream and downstream segments with 30 and 13 contracts, respectively.
Contract award activity in Asia-Pacific’s midstream segment during September 2022
In September 2022, South Korea led the activity with 13 contracts and a 37% share of the midstream oil and gas contracts in Asia-Pacific. It saw an increase of 63% over the previous month’s total of eight contracts and an increase of 44% when compared with the last 12 month-average of nine contracts in South Korea.
In second place was China with nine contracts and a 26% share, followed by India with four contracts and an 11% share.
Based on 12-month moving average of the contracts in the midstream segment of Asia-Pacific, China took the top spot with 10 contracts, followed by South Korea and Australia with nine and three contracts, respectively.
Contracts by scope of work in Asia-Pacific’s midstream segment during September 2022
During the month, the majority of midstream segment contracts awarded in the Asia-Pacific were in the construction with 17 contracts, followed by operations & maintenance and procurement with nine and eight 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.