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  1. Market Data
March 21, 2022

Contract activities in petrochemicals segment in Asia-Pacific down 60% in February 2022

By Carmen

The petrochemicals segment contracts in Asia-Pacific registered a decrease of 60% with two contracts in February 2022, when compared with the previous month’s total of five contracts, according to GlobalData’s oil and gas contracts database.

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



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

In February 2022, China and Thailand led the activity with one contract and a 50% share each of the petrochemicals oil and gas contracts in Asia-Pacific. It saw a decrease of 50% over the previous month’s total of two contracts and a decrease of 67% when compared with the last 12 month-average of three contracts in China.

Based on 12-month moving average of the contracts in the petrochemicals segment of Asia-Pacific, China and India took the top spot with three contracts each, followed by Taiwan with two contracts.

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

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

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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