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August 22, 2022

Contract activities in upstream segment in Middle East down 57% in July 2022

By Carmen

The upstream segment contracts in Middle East registered a decrease of 57% with 20 contracts in July 2022, when compared with the previous month’s total of 47 contracts, according to GlobalData’s oil and gas contracts database.

A total of 20 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 20 contracts in July 2022, followed by midstream and downstream segments with five and four contracts, respectively.


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

In July 2022, the UAE led the activity with five contracts and a 25% 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 the UAE.

In second place was Saudi Arabia with four contracts and a 20% share, followed by Iran with two contracts and a 10% share.

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

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

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

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