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  1. Market Data
September 15, 2022

Contract activities in petrochemicals segment in Asia-Pacific down 56% in August 2022

By Carmen

The petrochemicals segment contracts in Asia-Pacific registered a decrease of 56% with 11 contracts in August 2022, when compared with the previous month’s total of 25 contracts, according to GlobalData’s oil and gas contracts database.

A total of 11 contracts were registered in the petrochemicals segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 14 contracts.



Contract award activity in Asia-Pacific’s petrochemicals segment during August 2022

In August 2022, China led the activity with five contracts and a 45% share of the petrochemicals oil and gas contracts in Asia-Pacific. It saw a decrease of 77% over the previous month’s total of 22 contracts and a decrease of 17% when compared with the last 12 month-average of six contracts in China.

In second place was Australia with two contracts and an 18% share, followed by Malaysia with one contract and a 9% share.

Based on 12-month moving average of the contracts in the petrochemicals segment of Asia-Pacific, China took the top spot with seven contracts, followed by India and Australia with two and one contract, respectively.

Contracts by scope of work in Asia-Pacific’s petrochemicals segment during August 2022

During the month, the majority of petrochemicals segment contracts awarded in the Asia-Pacific were in the design & engineering with nine contracts, followed by procurement and installation with four and one contract, 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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