The downstream segment contracts in South America registered an increase of 33% with four contracts in Q1 2022, when compared with the previous quarter’s total of three contracts, according to GlobalData’s oil and gas contracts database.
A total of four contracts were registered in the downstream segment of South America during the quarter, when compared with the last four-quarter moving average of three contracts.
In terms of the number of contracts in South America, the upstream segment contributed the most with 45 contracts in Q1 2022, followed by midstream and downstream segments with five and four contracts, respectively.
Contract award activity in South America’s downstream segment during Q1 2022
Looking at the total oil and gas contracts by country in the downstream segment of South America, Argentina led the activity in Q1 2022 with three contracts and a 75% share. It saw an increase of 50% over the previous quarter’s total of two contracts and an increase of 200% when compared with the last four-quarter-average of one contract in Argentina.
Based on five-quarter moving average of the contracts in the downstream segment of South America, Argentina and Chile took the top spot with one contract each.
Contracts by scope of work in South America’s downstream segment during Q1 2022
During the quarter, the majority of downstream segment contracts awarded in the South America were in the design & engineering with three contracts, followed by procurement with one contract.
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.