Oil and gas contracts in Asia-Pacific registered an increase of 22% in Q1 2022 with 441 contracts, when compared with 362 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.
The activity marked an increase of 8%, when compared with the last four-quarter average of 407 contracts.
Contract award activity in Asia-Pacific during Q1 2022
Looking at contracts by country, China led the activity in Q1 2022 with 221 contracts and a 50% share of all the oil and gas contracts in the region, followed by India with 56 contracts and a 13% share and Australia with 49 contracts and an 11% share. It saw an increase of 235% over the previous quarter’s 66 contracts and an increase of 211% when compared with the last four-quarter-average of 71 contracts in China.
Based on five-quarter moving average, India took the top spot with 130 contracts, followed by China and Australia with 101 and 51 contracts, respectively.
Asia-Pacific’s oil and gas contracts by segment in Q1 2022
Looking at oil and gas contracts by segment in Asia-Pacific, upstream segment contributed the most in terms of the contracts awarded, with 239 contracts in Q1 2022, followed by midstream and downstream with 122 and 52 contracts, respectively.
Contracts by scope of work in Asia-Pacific during Q1 2022
During that quarter, the majority of the contracts awarded were in the procurement space with 216 contracts, followed by operations & maintenance and design & engineering with 138 and 103 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.