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  1. Market Data
June 28, 2022

Oil and gas contracts in North America down 3% in May 2022

By Carmen

Oil and gas contracts in North America registered a decrease of 3% in May 2022 with 103 contracts, when compared with 106 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 110 contracts.


Contract award activity in North America during May 2022

Looking at contracts by country, the US led the activity in May 2022 with 96 contracts representing a 93% share of all the oil and gas contracts, followed by Canada with six contracts and a 6% share and Mexico with one contract and a 1% share. It saw an increase of 10% over the previous month’s total of 87 contracts and an increase of 3% 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 97 contracts, followed by Canada and Mexico with nine and four contracts, respectively.


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

Looking at oil and gas contracts by segment in North America, upstream segment contributed the most in terms of the contracts awarded, with 80 contracts in May 2022, followed by midstream and downstream with eight and six contracts, respectively.

Contracts by scope of work in North America during May 2022

During May 2022, the majority of the contracts awarded were in the operations & maintenance space with 73 contracts, followed by design & engineering and procurement with 21 and 19 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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