The upstream segment contracts in Asia-Pacific registered a decrease of 34% with 43 contracts in August 2022, when compared with the previous month’s total of 65 contracts, according to GlobalData’s oil and gas contracts database.
A total of 43 contracts were registered in the upstream segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 66 contracts.
In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 43 contracts in August 2022, followed by downstream and midstream segments with 21 contracts each.
Contract award activity in Asia-Pacific’s upstream segment during August 2022
In August 2022, China led the activity with 15 contracts and a 35% share of the upstream oil and gas contracts in Asia-Pacific. It saw a decrease of 46% over the previous month’s total of 28 contracts and a decrease of 46% when compared with the last 12 month-average of 28 contracts in China.
In second place was Australia with nine contracts and a 21% share, followed by Malaysia with seven contracts and a 16% share.
Based on 12-month moving average of the contracts in the upstream segment of Asia-Pacific, China took the top spot with 28 contracts, followed by Australia and Malaysia with 11 and seven contracts, respectively.
Contracts by scope of work in Asia-Pacific’s upstream segment during August 2022
During the month, the majority of upstream segment contracts awarded in the Asia-Pacific were in the procurement with 27 contracts, followed by operations & maintenance and asset retirement with 14 and five 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.