Oil and gas contracts in Asia-Pacific registered a decrease of 15% in February 2022 with 121 contracts, when compared with 142 contracts in the previous month, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 12%, when compared with the last 12-month average of 137 contracts.
Contract award activity in Asia-Pacific during February 2022
Looking at contracts by country, China led the activity in February 2022 with 46 contracts representing a 38% share of all the oil and gas contracts, followed by Australia with 22 contracts and an 18% share and India with 19 contracts and a 16% share. It saw a decrease of 36% over the previous month’s total of 72 contracts and an increase of 70% when compared with the last 12 month-average 27 contracts in China.
Based on 12-month moving average, India took the top spot with 42 contracts, followed by China and Australia with 30 and 18 contracts, respectively.
Asia-Pacific’s oil and gas contracts by segment in February 2022
Looking at oil and gas contracts by segment in Asia-Pacific, upstream segment contributed the most in terms of the contracts awarded, with 79 contracts in February 2022, followed by midstream and downstream with 24 and 11 contracts, respectively.
Contracts by scope of work in Asia-Pacific during February 2022
During February 2022, the majority of the contracts awarded were in the procurement space with 55 contracts, followed by operations & maintenance and design & engineering with 44 and 25 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.