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March 21, 2022

Contract activities in midstream segment in North America down 31% in February 2022

By Carmen

The midstream segment contracts in North America registered a decrease of 31% with nine contracts in February 2022, when compared with the previous month’s total of 13 contracts, according to GlobalData’s oil and gas contracts database.

A total of nine contracts were registered in the midstream segment of North America during the month, when compared with the last 12-month moving average of 21 contracts.


In terms of the number of contracts in North America, the upstream segment contributed the most with 79 contracts in February 2022, followed by midstream and carbon capture segments with nine and four contracts, respectively.


Contract award activity in North America’s midstream segment during February 2022

In February 2022, the US led the activity with five contracts and a 56% share of the midstream oil and gas contracts in North America. It saw a decrease of 55% over the previous month’s total of 11 contracts and a decrease of 71% when compared with the last 12 month-average of 17 contracts in the US.

In second place was Canada with four contracts and a 44% share.

Based on 12-month moving average of the contracts in the midstream segment of North America, the US took the top spot with 16 contracts, followed by Canada and Bermuda with two and one contract, respectively.

Contracts by scope of work in North America’s midstream segment during February 2022

During the month, the majority of midstream segment contracts awarded in the North America were in the construction with five contracts, followed by design & engineering and installation with three and two 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.

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