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February 11, 2022

Contract activities in upstream segment in Middle East down 31% in January 2022

By Carmen

The upstream segment contracts in Middle East registered a decrease of 31% with 22 contracts in January 2022, when compared with the previous month’s total of 32 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 31 contracts.


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


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

In January 2022, Saudi Arabia led the activity with 11 contracts and a 50% share of the upstream oil and gas contracts in Middle East. It saw an increase of 1100% over the previous month’s no contracts and an increase of 120% when compared with the last 12 month-average of five contracts in Saudi Arabia.

In second place was Qatar with four contracts and an 18% share, followed by Oman with three contracts and a 14% share.

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 January 2022

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