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  1. Market Data
April 13, 2022

Oil and gas contracts in South America down 68% in March 2022

By Carmen

Oil and gas contracts in South America registered a decrease of 68% in March 2022 with 11 contracts, when compared with 34 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 54%, when compared with the last 12-month average of 24 contracts.


Contract award activity in South America during March 2022

Looking at contracts by country, Brazil led the activity in March 2022 with six contracts representing a 55% share of all the oil and gas contracts, followed by Colombia and Paraguay with one contract and a 9% share each. It saw a decrease of 70% over the previous month’s total of 20 contracts and a decrease of 60% when compared with the last 12 month-average 15 contracts in Brazil.

Based on 12-month moving average, Brazil took the top spot with 14 contracts, followed by Guyana and Colombia with three and two contracts, respectively.


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

Looking at oil and gas contracts by segment in South America, upstream segment contributed the most in terms of the contracts awarded, with seven contracts in March 2022, followed by midstream and downstream with two and one contract, respectively.

Contracts by scope of work in South America during March 2022

During March 2022, the majority of the contracts awarded were in the procurement space with five contracts, followed by operations & maintenance and asset retirement with three and two 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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