View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Market Data
July 14, 2022

Oil and gas contracts in North America down 5% in Q2 2022

By Carmen

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.

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.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Offshore Technology