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September 29, 2021updated 30 Sep 2021 3:23pm

Oil and gas contracts in Middle East up 7% in Q2 2021

By Carmen

Oil and gas contracts in Middle East registered an increase of 7% in Q2 2021 with 126 contracts, when compared with 118 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.

The activity marked an increase of 14%, when compared with the last four-quarter average of 111 contracts.

 

Contract award activity in Middle East during Q2 2021

Looking at contracts by country, Saudi Arabia led the activity in Q2 2021 with 23 contracts and an 18% share of all the oil and gas contracts in the region, followed by Qatar with 17 contracts and a 13% share and the UAE with 16 contracts and a 13% share. It saw an increase of 35% over the previous quarter’s 17 contracts and an increase of 53% when compared with the last four-quarter-average of 15 contracts in Saudi Arabia.

Based on five-quarter moving average, Qatar and the UAE took the top spot with 17 contracts each.

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Middle East’s oil and gas contracts by segment in Q2 2021

Looking at oil and gas contracts by segment in Middle East, upstream segment contributed the most in terms of the contracts awarded, with 95 contracts in Q2 2021, followed by midstream and downstream with 16 and nine contracts, respectively.

Contracts by scope of work in Middle East during Q2 2021

During that quarter, the majority of the contracts awarded were in the operations & maintenance space with 60 contracts, followed by procurement and design & engineering with 58 and 37 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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