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November 12, 2021

Oil and gas contracts in Asia-Pacific down 39% in October 2021

By Carmen

Oil and gas contracts in Asia-Pacific registered a decrease of 39% in October 2021 with 69 contracts, when compared with 113 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 47%, when compared with the last 12-month average of 129 contracts.


Contract award activity in Asia-Pacific during October 2021

Looking at contracts by country, Australia led the activity in October 2021 with 14 contracts representing a 20% share of all the oil and gas contracts, followed by India with 12 contracts and a 17% share and China with 11 contracts and a 16% share. It saw a decrease of 30% over the previous month’s total of 20 contracts and a decrease of 13% when compared with the last 12 month-average 16 contracts in Australia.

Based on 12-month moving average, India took the top spot with 42 contracts, followed by China and Australia with 22 and 16 contracts, respectively.


Asia-Pacific’s oil and gas contracts by segment in October 2021

Looking at oil and gas contracts by segment in Asia-Pacific, upstream segment contributed the most in terms of the contracts awarded, with 43 contracts in October 2021, followed by midstream and downstream with 17 and six contracts, respectively.

Contracts by scope of work in Asia-Pacific during October 2021

During October 2021, the majority of the contracts awarded were in the procurement space with 32 contracts, followed by operations & maintenance and design & engineering with 26 and 18 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.

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