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  1. Market Data
March 21, 2022

Oil and gas contracts in North America down 9% in February 2022

By Carmen

Oil and gas contracts in North America registered a decrease of 9% in February 2022 with 104 contracts, when compared with 114 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked an increase of 2%, when compared with the last 12-month average of 102 contracts.


Contract award activity in North America during February 2022

Looking at contracts by country, the US led the activity in February 2022 with 90 contracts representing an 87% share of all the oil and gas contracts

Canada stood second with nine contracts and a 9% share. It saw a decrease of 13% over the previous month’s total of 103 contracts and an increase of 3% when compared with the last 12 month-average 87 contracts in the US.

Based on 12-month moving average, the US took the top spot with 88 contracts, followed by Canada and Mexico with eight and four contracts, respectively.


North America’s oil and gas contracts by segment in February 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 February 2022, followed by midstream and carbon capture with nine and four contracts, respectively.

Contracts by scope of work in North America during February 2022

During February 2022, the majority of the contracts awarded were in the operations & maintenance space with 79 contracts, followed by design & engineering and procurement with 14 and 10 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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