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September 29, 2021updated 06 Oct 2021 4:45pm

Contract activities in upstream segment in Asia-Pacific up 29% in Q2 2021

By Carmen

The upstream segment contracts in Asia-Pacific registered an increase of 29% with 147 contracts in Q2 2021, when compared with the previous quarter’s total of 114 contracts, according to GlobalData’s oil and gas contracts database.

A total of 147 contracts were registered in the upstream segment of Asia-Pacific during the quarter, when compared with the last four-quarter moving average of 116 contracts.

 

In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 147 contracts in Q2 2021, followed by downstream and midstream segments with 125 and 94 contracts, respectively.

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Contract award activity in Asia-Pacific’s upstream segment during Q2 2021

Looking at the total oil and gas contracts by country in the upstream segment of Asia-Pacific, China led the activity in Q2 2021 with 36 contracts and a 24% share. It saw an increase of 125% over the previous quarter’s total of 16 contracts and an increase of 89% when compared with the last four-quarter-average of 19 contracts in China.

In second place was Malaysia with 31 contracts and a 21% share, followed by Australia with 28 contracts and a 19% share.

Based on five-quarter moving average of the contracts in the upstream segment of Asia-Pacific, Malaysia took the top spot with 24 contracts, followed by Australia and China with 23 and 22 contracts, respectively.

Contracts by scope of work in Asia-Pacific’s upstream segment during Q2 2021

During the quarter, the majority of upstream segment contracts awarded in the Asia-Pacific were in the procurement with 74 contracts, followed by operations & maintenance with 58 contracts.

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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