Oil and gas contracts in North America registered a flat growth in Q3 2022 with 419 contracts, when compared with 418 contracts in the previous quarter, according to GlobalData ’s oil and gas contracts database.
The activity marked an increase of 16%, when compared with the last four-quarter average of 362 contracts.
Contract award activity in North America during Q3 2022
Looking at contracts by country, the US led the activity in Q3 2022 with 388 contracts and a 93% share of all the oil and gas contracts in the region, followed by Mexico with 13 contracts and a 3% share and Canada with 12 contracts and a 3% share. It saw an increase of 3% over the previous quarter’s 378 contracts and an increase of 24% when compared with the last four-quarter-average of 313 contracts in the US.
Based on five-quarter moving average, the US took the top spot with 328 contracts, followed by Canada and Mexico with 22 and 13 contracts, respectively.
North America’s oil and gas contracts by segment in Q3 2022
Looking at oil and gas contracts by segment in North America, upstream segment contributed the most in terms of the contracts awarded, with 371 contracts in Q3 2022, followed by midstream and downstream with 29 and seven contracts, respectively.
Contracts by scope of work in North America during Q3 2022
During that quarter, the majority of the contracts awarded were in the operations & maintenance space with 352 contracts, followed by procurement and design & engineering with 44 and 26 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.