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January 11, 2022

Contract activities in petrochemicals segment in Middle East up 30% in Q4 2021

By Carmen

The petrochemicals segment contracts in Middle East registered an increase of 30% with 13 contracts in Q4 2021, when compared with the previous quarter’s total of 10 contracts, according to GlobalData’s oil and gas contracts database.

A total of 13 contracts were registered in the petrochemicals segment of Middle East during the quarter, when compared with the last four-quarter moving average of eight contracts.



Contract award activity in Middle East’s petrochemicals segment during Q4 2021

Looking at the total oil and gas contracts by country in the petrochemicals segment of Middle East, Saudi Arabia led the activity in Q4 2021 with four contracts and a 31% share. It saw an increase of 300% over the previous quarter’s total of one contract and an increase of 100% when compared with the last four-quarter-average of two contracts in Saudi Arabia, followed by Iran and the UAE with three contracts 23% share each.

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Based on five-quarter moving average of the contracts in the petrochemicals segment of Middle East, Iran and Saudi Arabia took the top spot with two contracts each, followed by Oman with one contract.

Contracts by scope of work in Middle East’s petrochemicals segment during Q4 2021

During the quarter, the majority of petrochemicals segment contracts awarded in the Middle East were in the design & engineering and procurement with eight contracts each, followed by construction with five 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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