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July 14, 2022

Contract activities in upstream segment in Asia-Pacific down 18% in Q2 2022

By Carmen

The upstream segment contracts in Asia-Pacific registered a decrease of 18% with 198 contracts in Q2 2022, when compared with the previous quarter’s total of 241 contracts, according to GlobalData’s oil and gas contracts database.

A total of 198 contracts were registered in the upstream segment of Asia-Pacific during the quarter, when compared with the last four-quarter moving average of 178 contracts.


In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 198 contracts in Q2 2022, followed by midstream and petrochemicals segments with 95 and 38 contracts, respectively.


Contract award activity in Asia-Pacific’s upstream segment during Q2 2022

Looking at the total oil and gas contracts by country in the upstream segment of Asia-Pacific, China led the activity in Q2 2022 with 104 contracts and a 53% share. It saw a decrease of 16% over the previous quarter’s total of 124 contracts and an increase of 70% when compared with the last four-quarter-average of 61 contracts in China.

In second place was Australia with 19 contracts and a 10% share, followed by Malaysia with 17 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 70 contracts, followed by Australia and Malaysia with 33 and 23 contracts, respectively.

Contracts by scope of work in Asia-Pacific’s upstream segment during Q2 2022

During the quarter, the majority of upstream segment contracts awarded in the Asia-Pacific were in the procurement with 110 contracts, followed by operations & maintenance and design & engineering with 55 and 27 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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