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  1. Market Data
January 11, 2022

Oil and gas contracts in Middle East down 28% in December 2021

By Carmen

Oil and gas contracts in Middle East registered a decrease of 28% in December 2021 with 33 contracts, when compared with 46 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 23%, when compared with the last 12-month average of 43 contracts.


Contract award activity in Middle East during December 2021

Looking at contracts by country, the UAE led the activity in December 2021 with nine contracts representing a 27% share of all the oil and gas contracts, followed by Saudi Arabia with six contracts and an 18% share and Iran with four contracts and a 12% share. It saw an increase of 13% over the previous month’s total of eight contracts and an increase of 50% when compared with the last 12 month-average six contracts in the UAE.

Based on 12-month moving average, Qatar and Saudi Arabia took the top spot with seven contracts each, followed by the UAE with six contracts.


Middle East’s oil and gas contracts by segment in December 2021

Looking at oil and gas contracts by segment in Middle East, upstream segment contributed the most in terms of the contracts awarded, with 24 contracts in December 2021, followed by downstream with six contracts.

Contracts by scope of work in Middle East during December 2021

During December 2021, the majority of the contracts awarded were in the design & engineering space with 21 contracts, followed by procurement and operations & maintenance with 15 and 13 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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