The midstream segment contracts in South America registered an increase of 25% with five contracts in Q1 2022, when compared with the previous quarter’s total of four contracts, according to GlobalData’s oil and gas contracts database.
A total of five contracts were registered in the midstream segment of South America during the quarter, when compared with the last four-quarter moving average of four contracts.
In terms of the number of contracts in South America, the upstream segment contributed the most with 45 contracts in Q1 2022, followed by midstream and downstream segments with five and four contracts, respectively.
Contract award activity in South America’s midstream segment during Q1 2022
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Looking at the total oil and gas contracts by country in the midstream segment of South America, Brazil, Suriname and Uruguay led the activity in Q1 2022 with one contract and a 20% share each. It saw a decrease of 50% over the previous quarter’s total of two contracts and a decrease of 50% when compared with the last four-quarter-average of two contracts in Brazil.
Based on five-quarter moving average of the contracts in the midstream segment of South America, Brazil held with two contracts.
Contracts by scope of work in South America’s midstream segment during Q1 2022
During the quarter, the majority of midstream segment contracts awarded in the South America were in the design & engineering with three contracts, followed by operations & maintenance and procurement with two and one contract, 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.