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  1. Market Data
April 13, 2022

Oil and gas contracts in North America up 8% in Q1 2022

By Carmen

Oil and gas contracts in North America registered an increase of 8% in Q1 2022 with 338 contracts, when compared with 313 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.

The activity marked an increase of 13%, when compared with the last four-quarter average of 300 contracts.


Contract award activity in North America during Q1 2022

Looking at contracts by country, the US led the activity in Q1 2022 with 300 contracts and an 89% share of all the oil and gas contracts in the region, followed by Canada with 23 contracts and a 7% share and Mexico with 11 contracts and a 3% share. It saw an increase of 16% over the previous quarter’s 259 contracts and an increase of 19% when compared with the last four-quarter-average of 253 contracts in the US.

Based on five-quarter moving average, the US took the top spot with 262 contracts, followed by Canada and Mexico with 23 and 12 contracts, respectively.


North America’s oil and gas contracts by segment in Q1 2022

Looking at oil and gas contracts by segment in North America, upstream segment contributed the most in terms of the contracts awarded, with 254 contracts in Q1 2022, followed by midstream and downstream with 40 and 14 contracts, respectively.

Contracts by scope of work in North America during Q1 2022

During that quarter, the majority of the contracts awarded were in the operations & maintenance space with 240 contracts, followed by procurement and design & engineering with 53 and 52 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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