Oil and gas contracts in North America registered a decrease of 19% in October 2022 with 122 contracts, when compared with 150 contracts in the previous month, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 8%, when compared with the last 12-month average of 133 contracts.
Contract award activity in North America during October 2022
Looking at contracts by country, the US led the activity in October 2022 with 113 contracts representing a 93% share of all the oil and gas contracts, followed by Mexico with four contracts and a 3% share and Canada with three contracts and a 2% share. It saw a decrease of 14% over the previous month’s total of 131 contracts and a decrease of 4% when compared with the last 12 month-average 118 contracts in the US.
Based on 12-month moving average, the US took the top spot with 118 contracts, followed by Canada and Mexico with seven and five contracts, respectively.
North America’s oil and gas contracts by segment in October 2022
Looking at oil and gas contracts by segment in North America, upstream segment contributed the most in terms of the contracts awarded, with 105 contracts in October 2022, followed by midstream and petrochemicals with seven and two contracts, respectively.
Contracts by scope of work in North America during October 2022
During October 2022, the majority of the contracts awarded were in the operations & maintenance space with 99 contracts, followed by procurement and design & engineering with 17 and 13 contracts, respectively.
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.