The upstream segment contracts in Middle East registered a decrease of 27% with 69 contracts in Q3 2022, when compared with the previous quarter’s total of 95 contracts, according to GlobalData ’s oil and gas contracts database.
A total of 69 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 69 contracts in Q3 2022, followed by midstream and petrochemicals segments with 18 and 10 contracts, respectively.
Contract award activity in Middle East’s upstream segment during Q3 2022
Looking at the total oil and gas contracts by country in the upstream segment of Middle East, Qatar and the UAE led the activity in Q3 2022 with 13 contracts and a 19% share each. It saw a decrease of 7% over the previous quarter’s total of 14 contracts and a decrease of 13% when compared with the last four-quarter-average of 15 contracts in Qatar, followed by Saudi Arabia with 12 contracts and a 17% share, followed by Saudi Arabia with 12 contracts and a 17% share.
Based on five-quarter moving average of the contracts in the upstream segment of Middle East, Saudi Arabia took the top spot with 18 contracts, followed by the UAE and Qatar with 17 and 15 contracts, respectively.
Contracts by scope of work in Middle East’s upstream segment during Q3 2022
During the quarter, the majority of upstream segment contracts awarded in the Middle East were in the operations & maintenance with 33 contracts, followed by procurement and design & engineering with 31 and 20 contracts, respectively.
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.