The upstream segment contracts in Asia-Pacific registered an increase of 66% with 239 contracts in Q1 2022, when compared with the previous quarter’s total of 144 contracts, according to GlobalData’s oil and gas contracts database.
A total of 239 contracts were registered in the upstream segment of Asia-Pacific during the quarter, when compared with the last four-quarter moving average of 141 contracts.
In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 239 contracts in Q1 2022, followed by midstream and downstream segments with 122 and 52 contracts, respectively.
Contract award activity in Asia-Pacific’s upstream segment during Q1 2022
Looking at the total oil and gas contracts by country in the upstream segment of Asia-Pacific, China led the activity in Q1 2022 with 133 contracts and a 56% share. It saw an increase of 202% over the previous quarter’s total of 44 contracts and an increase of 291% when compared with the last four-quarter-average of 34 contracts in China.
In second place was Australia with 35 contracts and a 15% share, followed by Malaysia with 22 contracts and a 9% share.
Based on five-quarter moving average of the contracts in the upstream segment of Asia-Pacific, China took the top spot with 53 contracts, followed by Australia and Malaysia with 33 and 24 contracts, respectively.
Contracts by scope of work in Asia-Pacific’s upstream segment during Q1 2022
During the quarter, the majority of upstream segment contracts awarded in the Asia-Pacific were in the procurement with 118 contracts, followed by operations & maintenance and design & engineering with 96 and 40 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.