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  1. Market Data
April 13, 2022

Contract activities in upstream segment in Middle East down 4% in March 2022

By Carmen

The upstream segment contracts in Middle East registered a decrease of 4% with 24 contracts in March 2022, when compared with the previous month’s total of 25 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 32 contracts.


In terms of the number of contracts in Middle East, the upstream segment contributed the most with 24 contracts in March 2022, followed by midstream and downstream segments with six and five contracts, respectively.


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

In March 2022, Saudi Arabia led the activity with six contracts and a 25% share of the upstream oil and gas contracts in Middle East. It saw an increase of 20% over the previous month’s total of five contracts and a flat growth when compared with the last 12 month-average of six contracts in Saudi Arabia, followed by the UAE and Oman with three contracts 13% 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 March 2022

During the month, the majority of upstream segment contracts awarded in the Middle East were in the operations & maintenance with 13 contracts, followed by design & engineering and procurement with 11 and 10 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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