Oil and gas contracts in Asia-Pacific registered an increase of 16% in March 2022 with 155 contracts, when compared with 134 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

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The activity marked an increase of 11%, when compared with the last 12-month average of 140 contracts.


Contract award activity in Asia-Pacific during March 2022

Looking at contracts by country, China led the activity in March 2022 with 98 contracts representing a 63% share of all the oil and gas contracts, followed by South Korea with 16 contracts and a 10% share and Australia with 10 contracts and a 6% share. It saw an increase of 100% over the previous month’s total of 49 contracts and an increase of 206% when compared with the last 12 month-average 32 contracts in China.

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Based on 12-month moving average, China and India took the top spot with 38 contracts each, followed by Australia with 18 contracts.

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Asia-Pacific’s oil and gas contracts by segment in March 2022

Looking at oil and gas contracts by segment in Asia-Pacific, upstream segment contributed the most in terms of the contracts awarded, with 71 contracts in March 2022, followed by midstream and downstream with 58 and 11 contracts, respectively.

Contracts by scope of work in Asia-Pacific during March 2022

During March 2022, the majority of the contracts awarded were in the procurement space with 94 contracts, followed by design & engineering and operations & maintenance with 42 and 30 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.