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September 15, 2022

Contract activities in upstream segment in Middle East up 10% in August 2022

By Carmen

The upstream segment contracts in Middle East registered an increase of 10% with 22 contracts in August 2022, when compared with the previous month’s total of 20 contracts, according to GlobalData’s oil and gas contracts database.

A total of 22 contracts were registered in the upstream segment of Middle East during the month, when compared with the last 12-month moving average of 32 contracts.


In terms of the number of contracts in Middle East, the upstream segment contributed the most with 22 contracts in August 2022, followed by midstream and petrochemicals segments with five contracts each.


Contract award activity in Middle East’s upstream segment during August 2022

In August 2022, Qatar led the activity with eight contracts and a 36% share of the upstream oil and gas contracts in Middle East. It saw an increase of 300% over the previous month’s total of two contracts and an increase of 60% when compared with the last 12 month-average of five contracts in Qatar.

In second place was the UAE with three contracts and a 14% share, followed by Oman with two contracts and a 9% share.

Based on 12-month moving average of the contracts in the upstream segment of Middle East, Saudi Arabia and the UAE took the top spot with six contracts each, followed by Qatar with five contracts.

Contracts by scope of work in Middle East’s upstream segment during August 2022

During the month, the majority of upstream segment contracts awarded in the Middle East were in the operations & maintenance with 10 contracts, followed by procurement and design & engineering with eight contracts each.

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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