Oil and gas contracts in Asia-Pacific registered a decrease of 25% in Q3 2022 with 405 contracts, when compared with 537 contracts in the previous quarter, according to GlobalData ’s oil and gas contracts database.

The activity marked a decrease of 23%, when compared with the last four-quarter average of 528 contracts.


Contract award activity in Asia-Pacific during Q3 2022

Looking at contracts by country, India led the activity in Q3 2022 with 134 contracts and a 33% share of all the oil and gas contracts in the region, followed by China with 111 contracts and a 27% share and Australia with 44 contracts and an 11% share. It saw a decrease of 26% over the previous quarter’s 180 contracts and a decrease of 33% when compared with the last four-quarter-average of 200 contracts in India.

Based on five-quarter moving average, India took the top spot with 187 contracts, followed by China and Australia with 131 and 49 contracts, respectively.


Asia-Pacific’s oil and gas contracts by segment in Q3 2022

Looking at oil and gas contracts by segment in Asia-Pacific, upstream segment contributed the most in terms of the contracts awarded, with 148 contracts in Q3 2022, followed by downstream and midstream with 137 and 75 contracts, respectively.

Contracts by scope of work in Asia-Pacific during Q3 2022

During that quarter, the majority of the contracts awarded were in the procurement space with 251 contracts, followed by operations & maintenance and design & engineering with 91 and 89 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.