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July 14, 2022

Contract activities in petrochemicals segment in Asia-Pacific up 65% in Q2 2022

By Carmen

The petrochemicals segment contracts in Asia-Pacific registered an increase of 65% with 38 contracts in Q2 2022, when compared with the previous quarter’s total of 23 contracts, according to GlobalData’s oil and gas contracts database.

A total of 38 contracts were registered in the petrochemicals segment of Asia-Pacific during the quarter, when compared with the last four-quarter moving average of 33 contracts.


In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 198 contracts in Q2 2022, followed by midstream and petrochemicals segments with 95 and 38 contracts, respectively.


Contract award activity in Asia-Pacific’s petrochemicals segment during Q2 2022

Looking at the total oil and gas contracts by country in the petrochemicals segment of Asia-Pacific, China led the activity in Q2 2022 with 19 contracts and a 50% share. It saw an increase of 19% over the previous quarter’s total of 16 contracts and an increase of 90% when compared with the last four-quarter-average of 10 contracts in China.

In second place was India with five contracts and a 13% share, followed by Japan with four contracts and an 11% share.

Based on five-quarter moving average of the contracts in the petrochemicals segment of Asia-Pacific, China took the top spot with 12 contracts, followed by India and Taiwan with seven and three contracts, respectively.

Contracts by scope of work in Asia-Pacific’s petrochemicals segment during Q2 2022

During the quarter, the majority of petrochemicals segment contracts awarded in the Asia-Pacific were in the design & engineering with 26 contracts, followed by procurement and construction with 17 and six 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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