The upstream segment contracts in Asia-Pacific registered a decrease of 39% with 30 contracts in September 2022, when compared with the previous month’s total of 49 contracts, according to GlobalData ’s oil and gas contracts database.
A total of 30 contracts were registered in the upstream segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 67 contracts.
In terms of the number of contracts in Asia-Pacific, the midstream segment contributed the most with 35 contracts in September 2022, followed by upstream and downstream segments with 30 and 13 contracts, respectively.
Contract award activity in Asia-Pacific’s upstream segment during September 2022
In September 2022, China led the activity with 14 contracts and a 47% share of the upstream oil and gas contracts in Asia-Pacific. It saw a decrease of 7% over the previous month’s total of 15 contracts and a decrease of 50% when compared with the last 12 month-average of 28 contracts in China.
In second place was Australia with eight contracts and a 27% share, followed by Kazakhstan with three contracts and a 10% share.
Based on 12-month moving average of the contracts in the upstream segment of Asia-Pacific, China took the top spot with 28 contracts, followed by Australia and Malaysia with 10 and seven contracts, respectively.
Contracts by scope of work in Asia-Pacific’s upstream segment during September 2022
During the month, the majority of upstream segment contracts awarded in the Asia-Pacific were in the procurement with 18 contracts, followed by operations & maintenance and design & engineering with 11 and five 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.