The upstream segment contracts in Asia-Pacific registered a decrease of 22% with 53 contracts in June 2022, when compared with the previous month’s total of 68 contracts, according to GlobalData’s oil and gas contracts database.
A total of 53 contracts were registered in the upstream segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 63 contracts.
In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 53 contracts in June 2022, followed by midstream and petrochemicals segments with 35 and 10 contracts, respectively.
Contract award activity in Asia-Pacific’s upstream segment during June 2022
In June 2022, China led the activity with 25 contracts and a 47% share of the upstream oil and gas contracts in Asia-Pacific. It saw a decrease of 40% over the previous month’s total of 42 contracts and a flat growth when compared with the last 12 month-average of 25 contracts in China.
In second place was Indonesia with 10 contracts and a 19% share, followed by Malaysia with six contracts and an 11% share.
Based on 12-month moving average of the contracts in the upstream segment of Asia-Pacific, China took the top spot with 26 contracts, followed by Australia and Malaysia with 11 and seven contracts, respectively.
Contracts by scope of work in Asia-Pacific’s upstream segment during June 2022
During the month, the majority of upstream segment contracts awarded in the Asia-Pacific were in the procurement with 31 contracts, followed by operations & maintenance and design & engineering with 12 and eight 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.