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  1. Market Data
May 27, 2022

Oil and gas contracts in North America down 30% in April 2022

By Carmen

Oil and gas contracts in North America registered a decrease of 30% in April 2022 with 102 contracts, when compared with 145 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 6%, when compared with the last 12-month average of 109 contracts.


Contract award activity in North America during April 2022

Looking at contracts by country, the US led the activity in April 2022 with 85 contracts representing an 83% share of all the oil and gas contracts, followed by Canada with 13 contracts and a 13% share and Mexico with three contracts and a 3% share. It saw a decrease of 35% over the previous month’s total of 130 contracts and a decrease of 9% when compared with the last 12 month-average 93 contracts in the US.

Based on 12-month moving average, the US took the top spot with 92 contracts, followed by Canada and Mexico with nine and four contracts, respectively.


North America’s oil and gas contracts by segment in April 2022

Looking at oil and gas contracts by segment in North America, upstream segment contributed the most in terms of the contracts awarded, with 79 contracts in April 2022, followed by midstream and renewable refinery with 12 and four contracts, respectively.

Contracts by scope of work in North America during April 2022

During April 2022, the majority of the contracts awarded were in the operations & maintenance space with 74 contracts, followed by procurement and design & engineering with 20 and 18 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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