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  1. Market Data
April 13, 2022

Contract activities in petrochemicals segment in Asia-Pacific down 49% in Q1 2022

By Carmen

The petrochemicals segment contracts in Asia-Pacific registered a decrease of 49% with 18 contracts in Q1 2022, when compared with the previous quarter’s total of 35 contracts, according to GlobalData’s oil and gas contracts database.

A total of 18 contracts were registered in the petrochemicals segment of Asia-Pacific during the quarter, when compared with the last four-quarter moving average of 36 contracts.



Contract award activity in Asia-Pacific’s petrochemicals segment during Q1 2022

Looking at the total oil and gas contracts by country in the petrochemicals segment of Asia-Pacific, China led the activity in Q1 2022 with 12 contracts and a 67% share. It saw an increase of 300% over the previous quarter’s total of three contracts and an increase of 20% when compared with the last four-quarter-average of 10 contracts in China, followed by Indonesia and Australia with two contracts 11% share each.

Based on five-quarter moving average of the contracts in the petrochemicals segment of Asia-Pacific, China took the top spot with 10 contracts, followed by India and Taiwan with seven and four contracts, respectively.

Contracts by scope of work in Asia-Pacific’s petrochemicals segment during Q1 2022

During the quarter, the majority of petrochemicals segment contracts awarded in the Asia-Pacific were in the procurement with 13 contracts, followed by design & engineering and construction with nine and five 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.

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