The upstream segment contracts in Middle East registered a decrease of 11% with 24 contracts in October 2022, when compared with the previous month’s total of 27 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 31 contracts.


In terms of the number of contracts in Middle East, the upstream segment contributed the most with 24 contracts in October 2022, followed by midstream and downstream segments with 10 and three contracts, respectively.


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

In October 2022, Saudi Arabia led the activity with eight contracts and a 33% share of the upstream oil and gas contracts in Middle East. It saw an increase of 14% over the previous month’s total of seven contracts and an increase of 33% when compared with the last 12 month-average of six contracts in Saudi Arabia.

In second place was the UAE with five contracts and a 21% share, followed by Qatar with three contracts and a 13% 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 five contracts, respectively.

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

During the month, the majority of upstream segment contracts awarded in the Middle East were in the operations & maintenance with 16 contracts, followed by procurement and design & engineering with eight and five 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.