The upstream segment contracts in Middle East remained flat in February 2022, when compared with the previous month’s total of 25 contracts, according to GlobalData’s oil and gas contracts database.
A total of 25 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 25 contracts in February 2022, followed by midstream and downstream segments with five and four contracts, respectively.
Contract award activity in Middle East’s upstream segment during February 2022
In February 2022, Saudi Arabia led the activity with five contracts and a 20% share of the upstream oil and gas contracts in Middle East. It saw a decrease of 55% over the previous month’s total of 11 contracts and a decrease of 17% when compared with the last 12 month-average of six contracts in Saudi Arabia, followed by the UAE and Qatar with four contracts 16% share each.
Based on 12-month moving average of the contracts in the upstream segment of Middle East, Saudi Arabia took the top spot with six contracts, followed by Qatar and the UAE with five contracts each.
Contracts by scope of work in Middle East’s upstream segment during February 2022
During the month, the majority of upstream segment contracts awarded in the Middle East were in the operations & maintenance with 18 contracts, followed by design & engineering and procurement with eight 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.