Oil and gas contracts in Middle East registered an increase of 21% in August 2022 with 34 contracts, when compared with 28 contracts in the previous month, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 26%, when compared with the last 12-month average of 46 contracts.
Contract award activity in Middle East during August 2022
Looking at contracts by country, Qatar led the activity in August 2022 with 14 contracts representing a 41% share of all the oil and gas contracts, followed by Saudi Arabia with five contracts and a 15% share and the UAE with four contracts and a 12% share. It saw an increase of 250% over the previous month’s total of four contracts and an increase of 75% when compared with the last 12 month-average eight contracts in Qatar.
Based on 12-month moving average, Qatar and Saudi Arabia took the top spot with nine contracts each, followed by the UAE with eight contracts.
Middle East’s oil and gas contracts by segment in August 2022
Looking at oil and gas contracts by segment in Middle East, upstream segment contributed the most in terms of the contracts awarded, with 22 contracts in August 2022, followed by midstream and petrochemicals segments with five contracts each.
Contracts by scope of work in Middle East during August 2022
During August 2022, the majority of the contracts awarded were in the procurement space with 17 contracts, followed by operations & maintenance and design & engineering with 15 and 10 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.