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August 22, 2022

Oil and gas contracts in North America down 10% in July 2022

By Carmen

Oil and gas contracts in North America registered a decrease of 10% in July 2022 with 138 contracts, when compared with 153 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked an increase of 17%, when compared with the last 12-month average of 118 contracts.


Contract award activity in North America during July 2022

Looking at contracts by country, the US led the activity in July 2022 with 127 contracts representing a 92% share of all the oil and gas contracts, followed by Canada with seven contracts and a 5% share and Mexico with two contracts and a 1% share. It saw a decrease of 9% over the previous month’s total of 139 contracts and an increase of 25% when compared with the last 12 month-average 102 contracts in the US.

Based on 12-month moving average, the US took the top spot with 107 contracts, followed by Canada and Mexico with eight and four contracts, respectively.


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

Looking at oil and gas contracts by segment in North America, upstream segment contributed the most in terms of the contracts awarded, with 128 contracts in July 2022, followed by midstream and carbon capture with four and one contract, respectively.

Contracts by scope of work in North America during July 2022

During July 2022, the majority of the contracts awarded were in the operations & maintenance space with 116 contracts, followed by procurement and design & engineering with 14 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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