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July 14, 2022

Oil and gas contracts in Asia-Pacific down 22% in Q2 2022

By Carmen

Oil and gas contracts in Asia-Pacific registered a decrease of 22% in Q2 2022 with 376 contracts, when compared with 479 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 14%, when compared with the last four-quarter average of 435 contracts.


Contract award activity in Asia-Pacific during Q2 2022

Looking at contracts by country, China led the activity in Q2 2022 with 161 contracts and a 43% share of all the oil and gas contracts in the region, followed by India with 44 contracts and a 12% share and South Korea with 41 contracts and an 11% share. It saw a decrease of 22% over the previous quarter’s 207 contracts and an increase of 44% when compared with the last four-quarter-average of 112 contracts in China.

Based on five-quarter moving average, China took the top spot with 122 contracts, followed by India and Australia with 109 and 50 contracts, respectively.


Asia-Pacific’s oil and gas contracts by segment in Q2 2022

Looking at oil and gas contracts by segment in Asia-Pacific, upstream segment contributed the most in terms of the contracts awarded, with 198 contracts in Q2 2022, followed by midstream and petrochemicals with 95 and 38 contracts, respectively.

Contracts by scope of work in Asia-Pacific during Q2 2022

During that quarter, the majority of the contracts awarded were in the procurement space with 192 contracts, followed by design & engineering and operations & maintenance with 100 and 71 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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