Oil and gas contracts in Asia-Pacific registered a decrease of 28% in Q4 2021 with 278 contracts, when compared with 388 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 30%, when compared with the last four-quarter average of 397 contracts.
Contract award activity in Asia-Pacific during Q4 2021
Looking at contracts by country, India led the activity in Q4 2021 with 81 contracts and a 29% share of all the oil and gas contracts in the region, followed by China with 55 contracts and a 20% share and Australia with 46 contracts and a 17% share. It saw a decrease of 32% over the previous quarter’s 119 contracts and a decrease of 42% when compared with the last four-quarter-average of 140 contracts in India.
Based on five-quarter moving average, India took the top spot with 128 contracts, followed by China and Australia with 64 and 47 contracts, respectively.
Asia-Pacific’s oil and gas contracts by segment in Q4 2021
Looking at oil and gas contracts by segment in Asia-Pacific, upstream segment contributed the most in terms of the contracts awarded, with 131 contracts in Q4 2021, followed by downstream and midstream segments with 61 contracts each.
Contracts by scope of work in Asia-Pacific during Q4 2021
During that quarter, the majority of the contracts awarded were in the procurement space with 139 contracts, followed by operations & maintenance and design & engineering with 94 and 74 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.