The petrochemicals segment contracts in Middle East registered an increase of 75% with seven contracts in Q2 2022, when compared with the previous quarter’s total of four contracts, according to GlobalData’s oil and gas contracts database.
A total of seven contracts were registered in the petrochemicals segment of Middle East during the quarter, when compared with the last four-quarter moving average of nine contracts.
In terms of the number of contracts in Middle East, the upstream segment contributed the most with 81 contracts in Q2 2022, followed by midstream and petrochemicals segments with 22 and seven contracts, respectively.
Contract award activity in Middle East’s petrochemicals segment during Q2 2022
Looking at the total oil and gas contracts by country in the petrochemicals segment of Middle East, Saudi Arabia led the activity in Q2 2022 with three contracts and a 43% share. It saw an increase of 200% over the previous quarter’s total of one contract and a flat growth when compared with the last four-quarter-average of three contracts in Saudi Arabia.
In second place was Qatar with two contracts and a 29% share, followed by Turkey with one contract and a 14% share.
Based on five-quarter moving average of the contracts in the petrochemicals segment of Middle East, Saudi Arabia took the top spot with three contracts, followed by the UAE and Iran with two and one contract, respectively.
Contracts by scope of work in Middle East’s petrochemicals segment during Q2 2022
During the quarter, the majority of petrochemicals segment contracts awarded in the Middle East were in the design & engineering and procurement with four contracts each, followed by construction with three contracts.
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.