The petrochemicals segment contracts in Asia-Pacific registered an increase of 55% with 17 contracts in April 2022, when compared with the previous month’s total of 11 contracts, according to GlobalData’s oil and gas contracts database.
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A total of 17 contracts were registered in the petrochemicals segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 11 contracts.
In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 67 contracts in April 2022, followed by midstream and petrochemicals segments with 34 and 17 contracts, respectively.
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Contract award activity in Asia-Pacific’s petrochemicals segment during April 2022
In April 2022, China led the activity with eight contracts and a 47% share of the petrochemicals oil and gas contracts in Asia-Pacific. It saw a decrease of 11% over the previous month’s total of nine contracts and an increase of 167% when compared with the last 12 month-average of three contracts in China.
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By GlobalDataIn second place was South Korea with three contracts and an 18% share, followed by Australia with two contracts and a 12% share.
Based on 12-month moving average of the contracts in the petrochemicals segment of Asia-Pacific, China took the top spot with three contracts, followed by India and Australia with two and one contract, respectively.
Contracts by scope of work in Asia-Pacific’s petrochemicals segment during April 2022
During the month, the majority of petrochemicals segment contracts awarded in the Asia-Pacific were in the design & engineering with 12 contracts, followed by procurement and construction with six and three 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.
