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September 29, 2021updated 01 Oct 2021 2:45pm

Oil and gas contracts in North America up 4% in Q2 2021

By Carmen

Oil and gas contracts in North America registered an increase of 4% in Q2 2021 with 280 contracts, when compared with 270 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.

The activity marked an increase of 7%, when compared with the last four-quarter average of 261 contracts.

 

Contract award activity in North America during Q2 2021

Looking at contracts by country, the US led the activity in Q2 2021 with 235 contracts and an 84% share of all the oil and gas contracts in the region, followed by Canada with 29 contracts and a 10% share and Mexico with seven contracts and a 3% share. It saw a flat growth over the previous quarter’s 236 contracts and an increase of 7% when compared with the last four-quarter-average of 220 contracts in the US.

Based on five-quarter moving average, the US took the top spot with 223 contracts, followed by Canada and Mexico with 21 and 12 contracts, respectively.

 

North America’s oil and gas contracts by segment in Q2 2021

Looking at oil and gas contracts by segment in North America, upstream segment contributed the most in terms of the contracts awarded, with 169 contracts in Q2 2021, followed by midstream and downstream with 74 and 20 contracts, respectively.

Contracts by scope of work in North America during Q2 2021

During that quarter, the majority of the contracts awarded were in the operations & maintenance space with 175 contracts, followed by procurement and design & engineering with 55 and 53 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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