Oil and gas contracts in Middle East registered an increase of 20% in November 2022 with 42 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 7%, when compared with the last 12-month average of 45 contracts.
Contract award activity in Middle East during November 2022
Looking at contracts by country, the UAE led the activity in November 2022 with 10 contracts representing a 24% share of all the oil and gas contracts, followed by Oman with eight contracts and a 19% share and Kuwait with seven contracts and a 17% share. It saw an increase of 67% over the previous month’s total of six contracts and an increase of 11% when compared with the last 12 month-average nine contracts in the UAE.
Based on 12-month moving average, Saudi Arabia and the UAE took the top spot with nine contracts each, followed by Qatar with eight contracts.
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Middle East’s oil and gas contracts by segment in November 2022
Looking at oil and gas contracts by segment in Middle East, upstream segment contributed the most in terms of the contracts awarded, with 31 contracts in November 2022, followed by midstream with eight contracts.
Contracts by scope of work in Middle East during November 2022
During November 2022, the majority of the contracts awarded were in the operations & maintenance space with 24 contracts, followed by procurement and design & engineering with 14 and 13 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.