View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Market Data
January 11, 2022

Contract activities in upstream segment in Middle East down 29% in December 2021

By Carmen

The upstream segment contracts in Middle East registered a decrease of 29% with 24 contracts in December 2021, when compared with the previous month’s total of 34 contracts, according to GlobalData’s oil and gas contracts database.

A total of 24 contracts were registered in the upstream segment of Middle East during the month, when compared with the last 12-month moving average of 31 contracts.


In terms of the number of contracts in Middle East, the upstream segment contributed the most with 24 contracts in December 2021, followed by downstream and petrochemicals segments with six contracts each.


Contract award activity in Middle East’s upstream segment during December 2021

In December 2021, the UAE led the activity with seven contracts and a 29% share of the upstream oil and gas contracts in Middle East. It saw a decrease of 13% over the previous month’s total of eight contracts and an increase of 40% when compared with the last 12 month-average of five contracts in the UAE.

In second place was Saudi Arabia with five contracts and a 21% share, followed by Kuwait with four contracts and a 17% 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 five contracts each, followed by Qatar with four contracts.

Contracts by scope of work in Middle East’s upstream segment during December 2021

During the month, the majority of upstream segment contracts awarded in the Middle East were in the design & engineering with 15 contracts, followed by operations & maintenance and procurement with 10 and nine 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.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Offshore Technology