The upstream segment contracts in Asia-Pacific registered a decrease of 12% with 68 contracts in May 2022, when compared with the previous month’s total of 77 contracts, according to GlobalData’s oil and gas contracts database.
A total of 68 contracts were registered in the upstream segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 61 contracts.
In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 68 contracts in May 2022, followed by midstream and downstream segments with 23 and 13 contracts, respectively.
Contract award activity in Asia-Pacific’s upstream segment during May 2022
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In May 2022, China led the activity with 42 contracts and a 62% share of the upstream oil and gas contracts in Asia-Pacific. It saw an increase of 14% over the previous month’s total of 37 contracts and an increase of 91% when compared with the last 12 month-average of 22 contracts in China, followed by Singapore and Australia with five contracts 7% share each.
Based on 12-month moving average of the contracts in the upstream segment of Asia-Pacific, China took the top spot with 25 contracts, followed by Australia and Malaysia with 12 and eight contracts, respectively.
Contracts by scope of work in Asia-Pacific’s upstream segment during May 2022
During the month, the majority of upstream segment contracts awarded in the Asia-Pacific were in the procurement with 41 contracts, followed by operations & maintenance and construction with 17 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.