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  1. Market Data
August 22, 2022

Oil and gas contracts in Middle East down 52% in July 2022

By Carmen

Oil and gas contracts in Middle East registered a decrease of 52% in July 2022 with 28 contracts, when compared with 58 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 38%, when compared with the last 12-month average of 45 contracts.


Contract award activity in Middle East during July 2022

Looking at contracts by country, the UAE led the activity in July 2022 with eight contracts representing a 29% share of all the oil and gas contracts, followed by Saudi Arabia with five contracts and an 18% share and Qatar with four contracts and a 14% share. It saw a decrease of 27% over the previous month’s total of 11 contracts and a flat growth when compared with the last 12 month-average eight contracts in the UAE.

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


Middle East’s oil and gas contracts by segment in July 2022

Looking at oil and gas contracts by segment in Middle East, upstream segment contributed the most in terms of the contracts awarded, with 20 contracts in July 2022, followed by midstream with five contracts.

Contracts by scope of work in Middle East during July 2022

During July 2022, the majority of the contracts awarded were in the procurement space with 13 contracts, followed by design & engineering and operations & maintenance with 12 and 10 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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