The upstream segment contracts in Asia-Pacific registered an increase of 19% with 43 contracts in October 2022, when compared with the previous month’s total of 36 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 65 contracts.


In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 43 contracts in October 2022, followed by midstream and petrochemicals segments with 41 and four contracts, respectively.


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

In October 2022, China and Malaysia led the activity with 11 contracts and a 26% share each of the upstream oil and gas contracts in Asia-Pacific. It saw a decrease of 21% over the previous month’s total of 14 contracts and a decrease of 61% when compared with the last 12 month-average of 28 contracts in China, followed by Australia with four contracts and a 9% share, followed by Australia with four contracts and a 9% share.

Based on 12-month moving average of the contracts in the upstream segment of Asia-Pacific, China took the top spot with 28 contracts, followed by Australia and Malaysia with 10 and eight contracts, respectively.

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

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 14 and 12 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.