The upstream segment contracts in Middle East registered a decrease of 19% with 21 contracts in September 2022, when compared with the previous month’s total of 26 contracts, according to GlobalData ’s oil and gas contracts database.
A total of 21 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 21 contracts in September 2022, followed by midstream and petrochemicals segments with seven and two contracts, respectively.
Contract award activity in Middle East’s upstream segment during September 2022
In September 2022, Saudi Arabia led the activity with six contracts and a 29% share of the upstream oil and gas contracts in Middle East. It saw an increase of 200% over the previous month’s total of two contracts and a flat growth when compared with the last 12 month-average of six contracts in Saudi Arabia.
In second place was the UAE with four contracts and a 19% share, followed by Iraq with three contracts and a 14% share.
Based on 12-month moving average of the contracts in the upstream segment of Middle East, Saudi Arabia and the UAE took the top spot with six contracts each, followed by Qatar with five contracts.
Contracts by scope of work in Middle East’s upstream segment during September 2022
During the month, the majority of upstream segment contracts awarded in the Middle East were in the operations & maintenance with 12 contracts, followed by procurement and design & engineering with 11 and six 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.