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April 13, 2022

Contract activities in midstream segment in North America up 70% in March 2022

By Carmen

The midstream segment contracts in North America registered an increase of 70% with 17 contracts in March 2022, when compared with the previous month’s total of 10 contracts, according to GlobalData’s oil and gas contracts database.

A total of 17 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 82 contracts in March 2022, followed by midstream and petrochemicals segments with 17 and four contracts, respectively.


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

In March 2022, the US led the activity with 12 contracts and a 71% share of the midstream oil and gas contracts in North America. It saw an increase of 140% over the previous month’s total of five contracts and a decrease of 25% when compared with the last 12 month-average of 16 contracts in the US.

In second place was Canada with two contracts and a 12% share, followed by Bermuda with one contract and a 6% 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 March 2022

During the month, the majority of midstream segment contracts awarded in the North America were in the procurement with 10 contracts, followed by design & engineering and construction with seven and five 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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