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  1. Market Data
July 14, 2022

Contract activities in upstream segment in Middle East down 4% in Q2 2022

By Carmen

The upstream segment contracts in Middle East registered a decrease of 4% with 81 contracts in Q2 2022, when compared with the previous quarter’s total of 84 contracts, according to GlobalData’s oil and gas contracts database.

A total of 81 contracts were registered in the upstream segment of Middle East during the quarter, when compared with the last four-quarter moving average of 98 contracts.


In terms of the number of contracts in Middle East, the upstream segment contributed the most with 81 contracts in Q2 2022, followed by midstream and petrochemicals segments with 22 and seven contracts, respectively.


Contract award activity in Middle East’s upstream segment during Q2 2022

Looking at the total oil and gas contracts by country in the upstream segment of Middle East, the UAE led the activity in Q2 2022 with 17 contracts and a 21% share. It saw an increase of 21% over the previous quarter’s total of 14 contracts and an increase of 6% when compared with the last four-quarter-average of 16 contracts in the UAE.

In second place was Saudi Arabia with 16 contracts and a 20% share, followed by Qatar with 11 contracts and a 14% 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 the UAE and Qatar with 16 and 14 contracts, respectively.

Contracts by scope of work in Middle East’s upstream segment during Q2 2022

During the quarter, the majority of upstream segment contracts awarded in the Middle East were in the operations & maintenance with 38 contracts, followed by procurement and design & engineering with 33 and 26 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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