The upstream segment contracts in Asia-Pacific registered a decrease of 30% with 148 contracts in Q3 2022, when compared with the previous quarter’s total of 212 contracts, according to GlobalData ’s oil and gas contracts database.
A total of 148 contracts were registered in the upstream segment of Asia-Pacific during the quarter, when compared with the last four-quarter moving average of 194 contracts.
In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 148 contracts in Q3 2022, followed by downstream and midstream segments with 137 and 75 contracts, respectively.
Contract award activity in Asia-Pacific’s upstream segment during Q3 2022
Looking at the total oil and gas contracts by country in the upstream segment of Asia-Pacific, China led the activity in Q3 2022 with 57 contracts and a 39% share. It saw a decrease of 46% over the previous quarter’s total of 106 contracts and a decrease of 27% when compared with the last four-quarter-average of 78 contracts in China.
In second place was Australia with 30 contracts and a 20% share, followed by Malaysia with 19 contracts and a 13% share.
Based on five-quarter moving average of the contracts in the upstream segment of Asia-Pacific, China took the top spot with 74 contracts, followed by Australia and Malaysia with 33 and 22 contracts, respectively.
Contracts by scope of work in Asia-Pacific’s upstream segment during Q3 2022
During the quarter, the majority of upstream segment contracts awarded in the Asia-Pacific were in the procurement with 79 contracts, followed by operations & maintenance and design & engineering with 54 and 27 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.