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July 14, 2022

Contract activities in petrochemicals segment in Middle East up 300% in June 2022

By Carmen

The petrochemicals segment contracts in Middle East registered an increase of 300% with four contracts in June 2022, when compared with the previous month’s total of one contract, according to GlobalData’s oil and gas contracts database.

A total of four contracts were registered in the petrochemicals segment of Middle East during the month, when compared with the last 12-month moving average of three contracts.


In terms of the number of contracts in Middle East, the upstream segment contributed the most with 38 contracts in June 2022, followed by midstream and petrochemicals segments with five and four contracts, respectively.


Contract award activity in Middle East’s petrochemicals segment during June 2022

In June 2022, Saudi Arabia led the activity with two contracts and a 50% share of the petrochemicals oil and gas contracts in Middle East. It saw an increase of 200% over the previous month’s no contracts and an increase of 100% when compared with the last 12 month-average of one contract in Saudi Arabia, followed by Turkey and Qatar with one contract 25% share each.

Based on 12-month moving average of the contracts in the petrochemicals segment of Middle East, Qatar, Saudi Arabia and the UAE took the top spot with one contract each.

Contracts by scope of work in Middle East’s petrochemicals segment during June 2022

During the month, the majority of petrochemicals segment contracts awarded in the Middle East were in the construction and design & engineering with two contracts each, followed by installation 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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