Oil and gas contracts in Asia-Pacific registered a decrease of 19% in October 2022 with 96 contracts, when compared with 119 contracts in the previous month, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 45%, when compared with the last 12-month average of 175 contracts.
Contract award activity in Asia-Pacific during October 2022
Looking at contracts by country, China led the activity in October 2022 with 27 contracts representing a 28% share of all the oil and gas contracts, followed by Malaysia and South Korea with 13 contracts and a 14% share each. It saw an increase of 8% over the previous month’s total of 25 contracts and a decrease of 43% when compared with the last 12 month-average 47 contracts in China.
Based on 12-month moving average, India took the top spot with 62 contracts, followed by China and Australia with 49 and 14 contracts, respectively.
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Asia-Pacific’s oil and gas contracts by segment in October 2022
Looking at oil and gas contracts by segment in Asia-Pacific, upstream segment contributed the most in terms of the contracts awarded, with 43 contracts in October 2022, followed by midstream and petrochemicals with 41 and four contracts, respectively.
Contracts by scope of work in Asia-Pacific during October 2022
During October 2022, the majority of the contracts awarded were in the procurement space with 41 contracts, followed by design & engineering and operations & maintenance with 37 and 25 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.