Oil and gas contracts in Middle East registered a decrease of 28% in Q3 2022 with 98 contracts, when compared with 136 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 30%, when compared with the last four-quarter average of 140 contracts.
Contract award activity in Middle East during Q3 2022
Looking at contracts by country, Qatar led the activity in Q3 2022 with 24 contracts and a 24% share of all the oil and gas contracts in the region, followed by the UAE with 19 contracts and a 19% share and Saudi Arabia with 18 contracts and an 18% share. It saw a decrease of 8% over the previous quarter’s 26 contracts and a decrease of 8% when compared with the last four-quarter-average of 26 contracts in Qatar.
Based on five-quarter moving average, Qatar and Saudi Arabia took the top spot with 26 contracts each, followed by the UAE with 23 contracts.
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Middle East’s oil and gas contracts by segment in Q3 2022
Looking at oil and gas contracts by segment in Middle East, upstream segment contributed the most in terms of the contracts awarded, with 69 contracts in Q3 2022, followed by midstream and petrochemicals with 18 and 10 contracts, respectively.
Contracts by scope of work in Middle East during Q3 2022
During that quarter, the majority of the contracts awarded were in the procurement space with 46 contracts, followed by operations & maintenance and design & engineering with 45 and 30 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.