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  1. Market Data
April 13, 2022

Oil and gas contracts in North America up 6% in March 2022

By Carmen

Oil and gas contracts in North America registered an increase of 6% in March 2022 with 114 contracts, when compared with 108 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked an increase of 9%, when compared with the last 12-month average of 105 contracts.


Contract award activity in North America during March 2022

Looking at contracts by country, the US led the activity in March 2022 with 104 contracts representing a 91% share of all the oil and gas contracts, followed by Canada with six contracts and a 5% share and Mexico with two contracts and a 2% share. It saw an increase of 13% over the previous month’s total of 92 contracts and an increase of 17% when compared with the last 12 month-average 89 contracts in the US.

Based on 12-month moving average, the US took the top spot with 89 contracts, followed by Canada and Mexico with nine and four contracts, respectively.


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

Looking at oil and gas contracts by segment in North America, upstream segment contributed the most in terms of the contracts awarded, with 82 contracts in March 2022, followed by midstream and petrochemicals with 17 and four contracts, respectively.

Contracts by scope of work in North America during March 2022

During March 2022, the majority of the contracts awarded were in the operations & maintenance space with 75 contracts, followed by procurement and design & engineering with 24 and 21 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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