Oil and gas contracts in Middle East registered a decrease of 24% in May 2022 with 29 contracts, when compared with 38 contracts in the previous month, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 34%, when compared with the last 12-month average of 44 contracts.
Contract award activity in Middle East during May 2022
Looking at contracts by country, Qatar led the activity in May 2022 with seven contracts representing a 24% share of all the oil and gas contracts, followed by Saudi Arabia with six contracts and a 21% share and the UAE with five contracts and a 17% share. It saw an increase of 40% over the previous month’s total of five contracts and a decrease of 13% 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 eight contracts each, followed by the UAE with seven contracts.
Middle East’s oil and gas contracts by segment in May 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 May 2022, followed by midstream and petrochemicals with eight and one contract, respectively.
Contracts by scope of work in Middle East during May 2022
During May 2022, the majority of the contracts awarded were in the procurement space with 12 contracts, followed by operations & maintenance and design & engineering with nine and eight 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.