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April 13, 2022

Contract activities in upstream segment in Asia-Pacific down 13% in March 2022

By Carmen

The upstream segment contracts in Asia-Pacific registered a decrease of 13% with 71 contracts in March 2022, when compared with the previous month’s total of 82 contracts, according to GlobalData’s oil and gas contracts database.

A total of 71 contracts were registered in the upstream segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 56 contracts.


In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 71 contracts in March 2022, followed by midstream and downstream segments with 58 and 11 contracts, respectively.


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

In March 2022, China led the activity with 52 contracts and a 73% share of the upstream oil and gas contracts in Asia-Pacific. It saw an increase of 73% over the previous month’s total of 30 contracts and an increase of 206% when compared with the last 12 month-average of 17 contracts in China.

In second place was Australia with five contracts and a 7% share, followed by Indonesia with four 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 21 contracts, followed by Australia and Malaysia with 12 and eight contracts, respectively.

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

During the month, the majority of upstream segment contracts awarded in the Asia-Pacific were in the procurement with 44 contracts, followed by operations & maintenance and design & engineering with 19 and 18 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.

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