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September 29, 2021updated 01 Oct 2021 2:53pm

Oil and gas contracts in South America down 29% in August 2021

By Carmen

Oil and gas contracts in South America registered a decrease of 29% in August 2021 with 22 contracts, when compared with 31 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity remained flat when compared with the last 12-month average of 22 contracts.

 

Contract award activity in South America during August 2021

Looking at contracts by country, Brazil led the activity in August 2021 with 14 contracts representing a 64% share of all the oil and gas contracts, followed by Guyana with four contracts and an 18% share and Ecuador with one contract and a 5% share. It saw a decrease of 18% over the previous month’s total of 17 contracts and an increase of 8% when compared with the last 12 month-average 13 contracts in Brazil.

Based on 12-month moving average, Brazil took the top spot with 13 contracts, followed by Guyana and Colombia with three and two contracts, respectively.

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South America’s oil and gas contracts by segment in August 2021

Looking at oil and gas contracts by segment in South America, upstream segment contributed the most in terms of the contracts awarded, with 22 contracts in August 2021.

Contracts by scope of work in South America during August 2021

During August 2021, the majority of the contracts awarded were in the operations & maintenance space with 13 contracts, followed by procurement and design & engineering with nine and eight 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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