The upstream segment contracts in Asia-Pacific registered a decrease of 7% with 79 contracts in February 2022, when compared with the previous month’s total of 85 contracts, according to GlobalData’s oil and gas contracts database.
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A total of 79 contracts were registered in the upstream segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 52 contracts.
In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 79 contracts in February 2022, followed by midstream and downstream segments with 24 and 11 contracts, respectively.
Contract award activity in Asia-Pacific’s upstream segment during February 2022
In February 2022, China led the activity with 30 contracts and a 38% share of the upstream oil and gas contracts in Asia-Pacific. It saw a decrease of 40% over the previous month’s total of 50 contracts and an increase of 100% when compared with the last 12 month-average of 15 contracts in China.
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By GlobalDataIn second place was Australia with 19 contracts and a 24% share, followed by Malaysia with 11 contracts and a 14% share.
Based on 12-month moving average of the contracts in the upstream segment of Asia-Pacific, China took the top spot with 17 contracts, followed by Australia and Malaysia with 13 and nine contracts, respectively.
Contracts by scope of work in Asia-Pacific’s upstream segment during February 2022
During the month, the majority of upstream segment contracts awarded in the Asia-Pacific were in the operations & maintenance with 37 contracts, followed by procurement and design & engineering with 35 and 10 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.
