The petrochemicals segment contracts in Asia-Pacific registered a decrease of 8% with 44 contracts in Q3 2022, when compared with the previous quarter’s total of 48 contracts, according to GlobalData ’s oil and gas contracts database.

A total of 44 contracts were registered in the petrochemicals segment of Asia-Pacific during the quarter, when compared with the last four-quarter moving average of 39 contracts.



Contract award activity in Asia-Pacific’s petrochemicals segment during Q3 2022

Looking at the total oil and gas contracts by country in the petrochemicals segment of Asia-Pacific, China led the activity in Q3 2022 with 31 contracts and a 70% share. It saw an increase of 29% over the previous quarter’s total of 24 contracts and an increase of 107% when compared with the last four-quarter-average of 15 contracts in China, followed by South Korea and Australia with two contracts 5% share each.

Based on five-quarter moving average of the contracts in the petrochemicals segment of Asia-Pacific, China took the top spot with 18 contracts, followed by India and Australia with six and three contracts, respectively.

Contracts by scope of work in Asia-Pacific’s petrochemicals segment during Q3 2022

During the quarter, the majority of petrochemicals segment contracts awarded in the Asia-Pacific were in the procurement with 28 contracts, followed by design & engineering and construction with 24 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.