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December 14, 2021

Oil and gas contracts in North America down 37% in November 2021

By Carmen

Oil and gas contracts in North America registered a decrease of 37% in November 2021 with 73 contracts, when compared with 116 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 24%, when compared with the last 12-month average of 96 contracts.


Contract award activity in North America during November 2021

Looking at contracts by country, the US led the activity in November 2021 with 53 contracts representing a 73% share of all the oil and gas contracts, followed by Canada and Mexico with seven contracts and a 10% share each. It saw a decrease of 48% over the previous month’s total of 101 contracts and a decrease of 35% when compared with the last 12 month-average 82 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 November 2021

Looking at oil and gas contracts by segment in North America, upstream segment contributed the most in terms of the contracts awarded, with 56 contracts in November 2021, followed by midstream and downstream with seven and six contracts, respectively.

Contracts by scope of work in North America during November 2021

During November 2021, the majority of the contracts awarded were in the operations & maintenance space with 51 contracts, followed by design & engineering and procurement with 15 and nine 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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