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January 11, 2022

Contract activities in midstream segment in South America down 20% in Q4 2021

By Carmen

The midstream segment contracts in South America registered a decrease of 20% with four contracts in Q4 2021, when compared with the previous quarter’s total of five contracts, according to GlobalData’s oil and gas contracts database.

A total of four contracts were registered in the midstream segment of South America during the quarter, remained flat when compared with the last four-quarter average contracts.


In terms of the number of contracts in South America, the upstream segment contributed the most with 56 contracts in Q4 2021, followed by midstream and downstream segments with four and three contracts, respectively.


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Contract award activity in South America’s midstream segment during Q4 2021

Looking at the total oil and gas contracts by country in the midstream segment of South America, Brazil led the activity in Q4 2021 with two contracts and a 50% share. It saw a decrease of 33% over the previous quarter’s total of three contracts and a flat growth when compared with the last four-quarter-average of two contracts in Brazil.

In second place was Venezuela with one contract and a 25% share.

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 Q4 2021

During the quarter, the majority of midstream segment contracts awarded in the South America were in the operations & maintenance with two contracts, followed by procurement and construction with one contract each.

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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