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July 14, 2022

Contract activities in midstream segment in North America down 50% in June 2022

By Carmen

The midstream segment contracts in North America registered a decrease of 50% with nine contracts in June 2022, when compared with the previous month’s total of 18 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 22 contracts.


In terms of the number of contracts in North America, the upstream segment contributed the most with 124 contracts in June 2022, followed by midstream and downstream segments with nine and three contracts, respectively.


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

In June 2022, the US led the activity with six contracts and a 67% share of the midstream oil and gas contracts in North America. It saw a decrease of 57% over the previous month’s total of 14 contracts and a decrease of 65% when compared with the last 12 month-average of 17 contracts in the US.

In second place was Bermuda with two contracts and a 22% share, followed by Canada with one contract and an 11% share.

Based on 12-month moving average of the contracts in the midstream segment of North America, the US took the top spot with 15 contracts, followed by Canada and Bermuda with three and one contract, respectively.

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

During the month, the majority of midstream segment contracts awarded in the North America were in the design & engineering with five contracts, followed by operations & maintenance and procurement with four 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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