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  1. Market Data
April 13, 2022

Contract activities in upstream segment in Middle East down 26% in Q1 2022

By Carmen

The upstream segment contracts in Middle East registered a decrease of 26% with 75 contracts in Q1 2022, when compared with the previous quarter’s total of 101 contracts, according to GlobalData’s oil and gas contracts database.

A total of 75 contracts were registered in the upstream segment of Middle East during the quarter, when compared with the last four-quarter moving average of 97 contracts.


In terms of the number of contracts in Middle East, the upstream segment contributed the most with 75 contracts in Q1 2022, followed by midstream and downstream segments with 16 and 12 contracts, respectively.


Contract award activity in Middle East’s upstream segment during Q1 2022

Looking at the total oil and gas contracts by country in the upstream segment of Middle East, Saudi Arabia led the activity in Q1 2022 with 22 contracts and a 29% share. It saw an increase of 57% over the previous quarter’s total of 14 contracts and an increase of 47% when compared with the last four-quarter-average of 15 contracts in Saudi Arabia.

In second place was the UAE with 12 contracts and a 16% share, followed by Qatar with 11 contracts and a 15% share.

Based on five-quarter moving average of the contracts in the upstream segment of Middle East, Saudi Arabia took the top spot with 17 contracts, followed by Qatar and the UAE with 14 contracts each.

Contracts by scope of work in Middle East’s upstream segment during Q1 2022

During the quarter, the majority of upstream segment contracts awarded in the Middle East were in the operations & maintenance with 47 contracts, followed by design & engineering and procurement with 28 and 27 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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