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  1. Market Data
February 11, 2022

Contract activities in petrochemicals segment in Asia-Pacific down 78% in January 2022

By Carmen

The petrochemicals segment contracts in Asia-Pacific registered a decrease of 78% with five contracts in January 2022, when compared with the previous month’s total of 23 contracts, according to GlobalData’s oil and gas contracts database.

A total of five 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.


In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 79 contracts in January 2022, followed by midstream and petrochemicals segments with 32 and five contracts, respectively.


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

In January 2022, China and Indonesia led the activity with two contracts and a 40% share each of the petrochemicals oil and gas contracts in Asia-Pacific. It saw an increase of 200% over the previous month’s no contracts and a decrease of 33% when compared with the last 12 month-average of three contracts in China, followed by India with one contract and a 20% share, followed by India with one contract and a 20% share.

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 Australia with one contract.

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

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

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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