The petrochemicals segment contracts in Asia-Pacific registered an increase of 47% with 25 contracts in July 2022, when compared with the previous month’s total of 17 contracts, according to GlobalData’s oil and gas contracts database.
A total of 25 contracts were registered in the petrochemicals segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 13 contracts.
In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 64 contracts in July 2022, followed by downstream and petrochemicals segments with 42 and 25 contracts, respectively.
Contract award activity in Asia-Pacific’s petrochemicals segment during July 2022
In July 2022, China led the activity with 22 contracts and an 88% share of the petrochemicals oil and gas contracts in Asia-Pacific. It saw an increase of 175% over the previous month’s total of eight contracts and an increase of 340% when compared with the last 12 month-average of five contracts in China.
In second place was Vietnam with two contracts and an 8% share, followed by India with one contract and a 4% share.
Based on 12-month moving average of the contracts in the petrochemicals segment of Asia-Pacific, China took the top spot with six contracts, followed by India and Australia with two and one contract, respectively.
Contracts by scope of work in Asia-Pacific’s petrochemicals segment during July 2022
During the month, the majority of petrochemicals segment contracts awarded in the Asia-Pacific were in the procurement with 19 contracts, followed by design & engineering and construction with 10 and three 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.