The petrochemicals segment contracts in Middle East registered an increase of 11% with 10 contracts in Q3 2022, when compared with the previous quarter’s total of nine contracts, according to GlobalData’s oil and gas contracts database.
A total of 10 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 69 contracts in Q3 2022, followed by midstream and petrochemicals segments with 18 and 10 contracts, respectively.
Contract award activity in Middle East’s petrochemicals segment during Q3 2022
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Looking at the total oil and gas contracts by country in the petrochemicals segment of Middle East, Saudi Arabia led the activity in Q3 2022 with six contracts and a 60% share. It saw an increase of 50% over the previous quarter’s total of four contracts and an increase of 100% when compared with the last four-quarter-average of three contracts in Saudi Arabia.
In second place was the UAE with three contracts and a 30% 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 Qatar and the UAE with two contracts each.
Contracts by scope of work in Middle East’s petrochemicals segment during Q3 2022
During the quarter, the majority of petrochemicals segment contracts awarded in the Middle East were in the procurement with seven contracts, followed by design & engineering and construction with six and three contracts, respectively.
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.