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January 11, 2022

Oil and gas contracts in North America down 11% in Q4 2021

By Carmen

Oil and gas contracts in North America registered a decrease of 11% in Q4 2021 with 272 contracts, when compared with 304 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 3%, when compared with the last four-quarter average of 281 contracts.


Contract award activity in North America during Q4 2021

Looking at contracts by country, the US led the activity in Q4 2021 with 222 contracts and an 82% share of all the oil and gas contracts in the region, followed by Canada with 14 contracts and a 5% share and Mexico with 11 contracts and a 4% share. It saw a decrease of 12% over the previous quarter’s 253 contracts and a decrease of 7% when compared with the last four-quarter-average of 239 contracts in the US.

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Based on five-quarter moving average, the US took the top spot with 235 contracts, followed by Canada and Mexico with 20 and 13 contracts, respectively.


North America’s oil and gas contracts by segment in Q4 2021

Looking at oil and gas contracts by segment in North America, upstream segment contributed the most in terms of the contracts awarded, with 188 contracts in Q4 2021, followed by midstream and downstream with 52 and 14 contracts, respectively.

Contracts by scope of work in North America during Q4 2021

During that quarter, the majority of the contracts awarded were in the operations & maintenance space with 192 contracts, followed by design & engineering and procurement with 45 and 40 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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