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  1. Market Data
January 11, 2022

Oil and gas contracts in North America up 5% in December 2021

By Carmen

Oil and gas contracts in North America registered an increase of 5% in December 2021 with 79 contracts, when compared with 75 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 19%, when compared with the last 12-month average of 97 contracts.


Contract award activity in North America during December 2021

Looking at contracts by country, the US led the activity in December 2021 with 65 contracts representing an 82% share of all the oil and gas contracts, followed by Canada with four contracts and a 5% share and Mexico with three contracts and a 4% share. It saw an increase of 20% over the previous month’s total of 54 contracts and a decrease of 20% when compared with the last 12 month-average 81 contracts in the US.

Based on 12-month moving average, the US took the top spot with 80 contracts, followed by Canada and Mexico with seven and four contracts, respectively.


North America’s oil and gas contracts by segment in December 2021

Looking at oil and gas contracts by segment in North America, upstream segment contributed the most in terms of the contracts awarded, with 63 contracts in December 2021, followed by midstream and downstream with 10 and three contracts, respectively.

Contracts by scope of work in North America during December 2021

During December 2021, the majority of the contracts awarded were in the operations & maintenance space with 58 contracts, followed by design & engineering and procurement with 13 and 11 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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