The upstream segment contracts in Middle East registered a decrease of 13% with 20 contracts in May 2022, when compared with the previous month’s total of 23 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 31 contracts.
In terms of the number of contracts in Middle East, the upstream segment contributed the most with 20 contracts in May 2022, followed by midstream and petrochemicals segments with eight and one contract, respectively.
Contract award activity in Middle East’s upstream segment during May 2022
In May 2022, Saudi Arabia led the activity with five contracts and a 25% share of the upstream oil and gas contracts in Middle East. It saw an increase of 67% over the previous month’s total of three contracts and a flat growth when compared with the last 12 month-average of five contracts in Saudi Arabia.
In second place was Qatar with three contracts and a 15% share, followed by Iraq with two contracts and a 10% share.
Based on 12-month moving average of the contracts in the upstream segment of Middle East, Qatar, Saudi Arabia and the UAE took the top spot with five contracts each.
Contracts by scope of work in Middle East’s upstream segment during May 2022
During the month, the majority of upstream segment contracts awarded in the Middle East were in the procurement with eight contracts, followed by design & engineering and operations & maintenance with six contracts each.
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.