The downstream segment contracts in South America registered a decrease of 40% with three contracts in Q2 2022, when compared with the previous quarter’s total of five contracts, according to GlobalData’s oil and gas contracts database.
A total of three contracts were registered in the downstream segment of South America during the quarter, remained flat when compared with the last four-quarter average contracts.
In terms of the number of contracts in South America, the upstream segment contributed the most with 52 contracts in Q2 2022, followed by midstream and downstream segments with eight and three contracts, respectively.
Contract award activity in South America’s downstream segment during Q2 2022
Looking at the total oil and gas contracts by country in the downstream segment of South America, Brazil led the activity in Q2 2022 with two contracts and a 67% share.
In second place was Venezuela with one contract and a 33% share.
Based on five-quarter moving average of the contracts in the downstream segment of South America, Argentina held with one contract.
Contracts by scope of work in South America’s downstream segment during Q2 2022
During the quarter, the majority of downstream segment contracts awarded in the South America were in the construction and design & engineering with two contracts each, followed by procurement with two contracts.
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.