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January 11, 2022

Contract activities in upstream segment in Asia-Pacific down 6% in Q4 2021

By Carmen

The upstream segment contracts in Asia-Pacific registered a decrease of 6% with 131 contracts in Q4 2021, when compared with the previous quarter’s total of 140 contracts, according to GlobalData’s oil and gas contracts database.

A total of 131 contracts were registered in the upstream segment of Asia-Pacific during the quarter, when compared with the last four-quarter moving average of 136 contracts.


In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 131 contracts in Q4 2021, followed by downstream and midstream segments with 61 contracts each.


Contract award activity in Asia-Pacific’s upstream segment during Q4 2021

Looking at the total oil and gas contracts by country in the upstream segment of Asia-Pacific, China led the activity in Q4 2021 with 41 contracts and a 31% share. It saw an increase of 32% over the previous quarter’s total of 31 contracts and an increase of 46% when compared with the last four-quarter-average of 28 contracts in China.

In second place was Australia with 33 contracts and a 25% share, followed by Malaysia with 21 contracts and a 16% share.

Based on five-quarter moving average of the contracts in the upstream segment of Asia-Pacific, Australia and China took the top spot with 30 contracts each, followed by Malaysia with 26 contracts.

Contracts by scope of work in Asia-Pacific’s upstream segment during Q4 2021

During the quarter, the majority of upstream segment contracts awarded in the Asia-Pacific were in the procurement with 69 contracts, followed by operations & maintenance and design & engineering with 55 and 20 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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