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November 12, 2021

Contract activities in upstream segment in Asia-Pacific down 7% in October 2021

By Carmen

The upstream segment contracts in Asia-Pacific registered a decrease of 7% with 43 contracts in October 2021, when compared with the previous month’s total of 46 contracts, according to GlobalData’s oil and gas contracts database.

A total of 43 contracts were registered in the upstream segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 45 contracts.


In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 43 contracts in October 2021, followed by midstream and downstream segments with 17 and six contracts, respectively.


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Contract award activity in Asia-Pacific’s upstream segment during October 2021

In October 2021, Australia led the activity with 11 contracts and a 26% share of the upstream oil and gas contracts in Asia-Pacific. It saw an increase of 10% over the previous month’s total of 10 contracts and an increase of 10% when compared with the last 12 month-average of 10 contracts in Australia.

In second place was China with 10 contracts and a 23% share, followed by Malaysia with seven contracts and a 16% share.

Based on 12-month moving average of the contracts in the upstream segment of Asia-Pacific, Australia and China took the top spot with 10 contracts each, followed by Malaysia with nine contracts.

Contracts by scope of work in Asia-Pacific’s upstream segment during October 2021

During the month, the majority of upstream segment contracts awarded in the Asia-Pacific were in the procurement with 21 contracts, followed by operations & maintenance and design & engineering with 17 and seven 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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