View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Market Data
March 21, 2022

Contract activities in upstream segment in Asia-Pacific down 7% in February 2022

By Carmen

The upstream segment contracts in Asia-Pacific registered a decrease of 7% with 79 contracts in February 2022, when compared with the previous month’s total of 85 contracts, according to GlobalData’s oil and gas contracts database.

A total of 79 contracts were registered in the upstream segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 52 contracts.


In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 79 contracts in February 2022, followed by midstream and downstream segments with 24 and 11 contracts, respectively.


Contract award activity in Asia-Pacific’s upstream segment during February 2022

In February 2022, China led the activity with 30 contracts and a 38% share of the upstream oil and gas contracts in Asia-Pacific. It saw a decrease of 40% over the previous month’s total of 50 contracts and an increase of 100% when compared with the last 12 month-average of 15 contracts in China.

In second place was Australia with 19 contracts and a 24% share, followed by Malaysia with 11 contracts and a 14% share.

Based on 12-month moving average of the contracts in the upstream segment of Asia-Pacific, China took the top spot with 17 contracts, followed by Australia and Malaysia with 13 and nine contracts, respectively.

Contracts by scope of work in Asia-Pacific’s upstream segment during February 2022

During the month, the majority of upstream segment contracts awarded in the Asia-Pacific were in the operations & maintenance with 37 contracts, followed by procurement and design & engineering with 35 and 10 contracts, respectively.

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.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Offshore Technology