Contracts in the petrochemicals oil and gas segment registered a decrease of 41% with 41 contracts in Q1 2022, when compared with 70 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 49%, when compared with the last four-quarter average of 80 contracts.
Petrochemicals oil and gas contracts in Q1 2022
Asia-Pacific led the contracts activity for petrochemicals segment, with 18 contracts and a 44% share in Q1 2022, followed by Europe and North America with 11 (27%) and seven (17%) contracts, respectively.
Contracts by scope of work in petrochemicals segment in Q1 2022
During the quarter, the majority of contracts in the petrochemicals segment were awarded in the procurement with 24 contracts, followed by design & engineering and construction with 23 and 11 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.