The midstream segment contracts in North America registered a decrease of 44% with 40 contracts in Q1 2022, when compared with the previous quarter’s total of 72 contracts, according to GlobalData’s oil and gas contracts database.
A total of 40 contracts were registered in the midstream segment of North America during the quarter, when compared with the last four-quarter moving average of 65 contracts.
In terms of the number of contracts in North America, the upstream segment contributed the most with 254 contracts in Q1 2022, followed by midstream and downstream segments with 40 and 14 contracts, respectively.
Contract award activity in North America’s midstream segment during Q1 2022
Looking at the total oil and gas contracts by country in the midstream segment of North America, the US led the activity in Q1 2022 with 28 contracts and a 70% share. It saw a decrease of 46% over the previous quarter’s total of 52 contracts and a decrease of 46% when compared with the last four-quarter-average of 52 contracts in the US.
In second place was Canada with eight contracts and a 20% share, followed by Bermuda with two contracts and a 5% share.
Based on five-quarter moving average of the contracts in the midstream segment of North America, the US took the top spot with 47 contracts, followed by Canada and Bermuda with seven and three contracts, respectively.
Contracts by scope of work in North America’s midstream segment during Q1 2022
During the quarter, the majority of midstream segment contracts awarded in the North America were in the procurement with 16 contracts, followed by design & engineering and construction with 15 and 13 contracts, respectively.
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.