The upstream segment contracts in Asia-Pacific registered a decrease of 11% with 41 contracts in December 2021, when compared with the previous month’s total of 46 contracts, according to GlobalData’s oil and gas contracts database.
A total of 41 contracts were registered in the upstream segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 47 contracts.
In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 41 contracts in December 2021, followed by midstream and downstream segments with 22 and 16 contracts, respectively.
Contract award activity in Asia-Pacific’s upstream segment during December 2021
In December 2021, China led the activity with 18 contracts and a 44% share of the upstream oil and gas contracts in Asia-Pacific. It saw an increase of 38% over the previous month’s total of 13 contracts and an increase of 80% when compared with the last 12 month-average of 10 contracts in China.
In second place was Australia with 12 contracts and a 29% share, followed by Malaysia with five contracts and a 12% share.
Based on 12-month moving average of the contracts in the upstream segment of Asia-Pacific, Australia and China took the top spot with 11 contracts each, followed by Malaysia with eight contracts.
Contracts by scope of work in Asia-Pacific’s upstream segment during December 2021
During the month, the majority of upstream segment contracts awarded in the Asia-Pacific were in the procurement with 23 contracts, followed by operations & maintenance and design & engineering with 20 and six 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.