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  1. Market Data
April 13, 2022

Oil and gas contracts in Middle East down 6% in March 2022

By Carmen

Oil and gas contracts in Middle East registered a decrease of 6% in March 2022 with 33 contracts, when compared with 35 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 27%, when compared with the last 12-month average of 45 contracts.


Contract award activity in Middle East during March 2022

Looking at contracts by country, Qatar, Saudi Arabia and the UAE led the activity in March 2022 with six contracts representing an 18% share each of all the oil and gas contracts. It saw an increase of 20% over the previous month’s total of five contracts and a decrease of 25% when compared with the last 12 month-average eight contracts in Qatar.

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


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

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 March 2022, followed by midstream with six contracts.

Contracts by scope of work in Middle East during March 2022

During March 2022, the majority of the contracts awarded were in the operations & maintenance space with 17 contracts, followed by procurement and design & engineering with 15 and 14 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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