The midstream segment contracts in South America remained flat in Q3 2022, when compared with the previous quarter’s total of nine contracts, according to GlobalData ’s oil and gas contracts database.
A total of nine contracts were registered in the midstream segment of South America during the quarter, when compared with the last four-quarter moving average of seven contracts.
In terms of the number of contracts in South America, the upstream segment contributed the most with 58 contracts in Q3 2022, followed by midstream and petrochemicals segments with nine and one contract, respectively.
Contract award activity in South America’s midstream segment during Q3 2022
Looking at the total oil and gas contracts by country in the midstream segment of South America, Argentina, Brazil and Guyana led the activity in Q3 2022 with two contracts and a 22% share each. It saw a decrease of 60% over the previous quarter’s total of five contracts and an increase of 100% when compared with the last four-quarter-average of one contract in Argentina.
Based on five-quarter moving average of the contracts in the midstream segment of South America, Brazil took the top spot with three contracts, followed by Argentina and Guyana with one contract each.
Contracts by scope of work in South America’s midstream segment during Q3 2022
During the quarter, the majority of midstream segment contracts awarded in the South America were in the procurement with four contracts, followed by design & engineering and installation with three and two 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.