Oil and gas contracts in Middle East registered a decrease of 30% in Q1 2022 with 104 contracts, when compared with 148 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 22%, when compared with the last four-quarter average of 134 contracts.
Contract award activity in Middle East during Q1 2022
Looking at contracts by country, Saudi Arabia led the activity in Q1 2022 with 27 contracts and a 26% share of all the oil and gas contracts in the region, followed by Qatar with 18 contracts and a 17% share and the UAE with 16 contracts and a 15% share. It saw a decrease of 10% over the previous quarter’s 30 contracts and an increase of 13% when compared with the last four-quarter-average of 24 contracts in Saudi Arabia.
Based on five-quarter moving average, Saudi Arabia took the top spot with 24 contracts, followed by Qatar and the UAE with 22 and 19 contracts, respectively.
Middle East’s oil and gas contracts by segment in Q1 2022
Looking at oil and gas contracts by segment in Middle East, upstream segment contributed the most in terms of the contracts awarded, with 75 contracts in Q1 2022, followed by midstream and downstream with 16 and 12 contracts, respectively.
Contracts by scope of work in Middle East during Q1 2022
During that quarter, the majority of the contracts awarded were in the operations & maintenance space with 58 contracts, followed by procurement and design & engineering with 42 and 39 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.