Oil and gas contracts in North America registered a decrease of 5% in Q2 2022 with 371 contracts, when compared with 390 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.
The activity marked an increase of 12%, when compared with the last four-quarter average of 331 contracts.
Contract award activity in North America during Q2 2022
Looking at contracts by country, the US led the activity in Q2 2022 with 333 contracts and a 90% share of all the oil and gas contracts in the region, followed by Canada with 24 contracts and a 6% share and Mexico with eight contracts and a 2% share. It saw a decrease of 4% over the previous quarter’s 346 contracts and an increase of 19% when compared with the last four-quarter-average of 281 contracts in the US.
Based on five-quarter moving average, the US took the top spot with 291 contracts, followed by Canada and Mexico with 26 and 12 contracts, respectively.
North America’s oil and gas contracts by segment in Q2 2022
Looking at oil and gas contracts by segment in North America, upstream segment contributed the most in terms of the contracts awarded, with 285 contracts in Q2 2022, followed by midstream and downstream with 53 and 13 contracts, respectively.
Contracts by scope of work in North America during Q2 2022
During that quarter, the majority of the contracts awarded were in the operations & maintenance space with 275 contracts, followed by procurement and design & engineering with 55 and 53 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.