The upstream segment contracts in Asia-Pacific registered an increase of 80% with 79 contracts in January 2022, when compared with the previous month’s total of 44 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 46 contracts.
In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 79 contracts in January 2022, followed by midstream and petrochemicals segments with 32 and five contracts, respectively.
Contract award activity in Asia-Pacific’s upstream segment during January 2022
In January 2022, China led the activity with 50 contracts and a 63% share of the upstream oil and gas contracts in Asia-Pacific. It saw an increase of 5000% over the previous month’s no contracts and an increase of 355% when compared with the last 12 month-average of 11 contracts in China.
In second place was Australia with 10 contracts and a 13% share, followed by India with five contracts and a 6% share.
Based on 12-month moving average of the contracts in the upstream segment of Asia-Pacific, China took the top spot with 15 contracts, followed by Australia and Malaysia with 11 and eight contracts, respectively.
Contracts by scope of work in Asia-Pacific’s upstream segment during January 2022
During the month, the majority of upstream segment contracts awarded in the Asia-Pacific were in the procurement with 36 contracts, followed by operations & maintenance and design & engineering with 33 and 11 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.