Oil and gas contracts in Middle East registered a decrease of 8% in Q2 2022 with 114 contracts, when compared with 124 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 17%, when compared with the last four-quarter average of 137 contracts.
Contract award activity in Middle East during Q2 2022
Looking at contracts by country, Saudi Arabia led the activity in Q2 2022 with 24 contracts and a 21% share of all the oil and gas contracts in the region, followed by Qatar with 22 contracts and a 19% share and the UAE with 21 contracts and an 18% share. It saw a decrease of 14% over the previous quarter’s 28 contracts and a decrease of 8% when compared with the last four-quarter-average of 26 contracts in Saudi Arabia.
Based on five-quarter moving average, Saudi Arabia took the top spot with 26 contracts, followed by Qatar and the UAE with 24 and 21 contracts, respectively.
Middle East’s oil and gas contracts by segment in Q2 2022
Looking at oil and gas contracts by segment in Middle East, upstream segment contributed the most in terms of the contracts awarded, with 81 contracts in Q2 2022, followed by midstream and petrochemicals with 22 and seven contracts, respectively.
Contracts by scope of work in Middle East during Q2 2022
During that quarter, the majority of the contracts awarded were in the procurement space with 49 contracts, followed by operations & maintenance and design & engineering with 48 and 37 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.