Oil and gas contracts in South America registered an increase of 59% in May 2022 with 27 contracts, when compared with 17 contracts in the previous month, according to GlobalData’s oil and gas contracts database.
The activity marked an increase of 13%, when compared with the last 12-month average of 24 contracts.
Contract award activity in South America during May 2022
Looking at contracts by country, Brazil led the activity in May 2022 with 19 contracts representing a 70% share of all the oil and gas contracts, followed by Argentina with four contracts and a 15% share and Guyana with two contracts and a 7% share. It saw an increase of 58% over the previous month’s total of 12 contracts and an increase of 27% when compared with the last 12 month-average 15 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.
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South America’s oil and gas contracts by segment in May 2022
Looking at oil and gas contracts by segment in South America, upstream segment contributed the most in terms of the contracts awarded, with 19 contracts in May 2022, followed by midstream and downstream with six and two contracts, respectively.
Contracts by scope of work in South America during May 2022
During May 2022, the majority of the contracts awarded were in the procurement space with 11 contracts, followed by design & engineering and operations & maintenance with 10 and nine 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.