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  1. Market Data
January 11, 2022

Oil and gas contracts in Middle East remain flat in Q4 2021

By Carmen

Oil and gas contracts in Middle East remained flat in Q4 2021 with 120 contracts, when compared with contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 3%, when compared with the last four-quarter average of 124 contracts.


Contract award activity in Middle East during Q4 2021

Looking at contracts by country, Saudi Arabia led the activity in Q4 2021 with 28 contracts and a 23% share of all the oil and gas contracts in the region, followed by the UAE with 23 contracts and a 19% share and Qatar with 20 contracts and a 17% share. It saw an increase of 40% over the previous quarter’s 20 contracts and an increase of 47% when compared with the last four-quarter-average of 19 contracts in Saudi Arabia.

Based on five-quarter moving average, Saudi Arabia took the top spot with 21 contracts, followed by Qatar and the UAE with 19 contracts each.


Middle East’s oil and gas contracts by segment in Q4 2021

Looking at oil and gas contracts by segment in Middle East, upstream segment contributed the most in terms of the contracts awarded, with 83 contracts in Q4 2021, followed by midstream and downstream with 21 and 16 contracts, respectively.

Contracts by scope of work in Middle East during Q4 2021

During that quarter, the majority of the contracts awarded were in the procurement space with 53 contracts, followed by design & engineering and operations & maintenance with 50 and 47 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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