Oil and gas contracts in Asia-Pacific registered a decrease of 14% in May 2022 with 125 contracts, when compared with 145 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 142 contracts.

 

Contract award activity in Asia-Pacific during May 2022

Looking at contracts by country, China led the activity in May 2022 with 59 contracts representing a 47% share of all the oil and gas contracts, followed by India with 19 contracts and a 15% share and South Korea with eight contracts and a 6% share. It saw an increase of 2% over the previous month’s total of 58 contracts and an increase of 51% when compared with the last 12 month-average 39 contracts in China.

Based on 12-month moving average, China took the top spot with 42 contracts, followed by India and Australia with 35 and 18 contracts, respectively.

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

Looking at oil and gas contracts by segment in Asia-Pacific, upstream segment contributed the most in terms of the contracts awarded, with 68 contracts in May 2022, followed by midstream and downstream with 23 and 13 contracts, respectively.

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

During May 2022, the majority of the contracts awarded were in the procurement space with 68 contracts, followed by design & engineering and construction with 30 and 27 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.