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  1. Market Data
March 21, 2022

Oil and gas contracts in South America up 278% in February 2022

By Carmen

Oil and gas contracts in South America registered an increase of 278% in February 2022 with 34 contracts, when compared with nine contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked an increase of 48%, when compared with the last 12-month average of 23 contracts.


Contract award activity in South America during February 2022

Looking at contracts by country, Brazil led the activity in February 2022 with 20 contracts representing a 59% share of all the oil and gas contracts, followed by Guyana with four contracts and a 12% share and Argentina with three contracts and a 9% share. It saw an increase of 233% over the previous month’s total of six contracts and an increase of 43% when compared with the last 12 month-average 14 contracts in Brazil.

Based on 12-month moving average, Brazil took the top spot with 15 contracts, followed by Guyana and Colombia with three and two contracts, respectively.


South America’s oil and gas contracts by segment in February 2022

Looking at oil and gas contracts by segment in South America, upstream segment contributed the most in terms of the contracts awarded, with 29 contracts in February 2022, followed by downstream with three contracts.

Contracts by scope of work in South America during February 2022

During February 2022, the majority of the contracts awarded were in the operations & maintenance space with 19 contracts, followed by design & engineering and procurement with nine and five 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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