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December 14, 2021

Oil and gas contracts in South America up 38% in November 2021

By Carmen

Oil and gas contracts in South America registered an increase of 38% in November 2021 with 22 contracts, when compared with 16 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 November 2021

Looking at contracts by country, Brazil led the activity in November 2021 with 17 contracts representing a 77% share of all the oil and gas contracts, followed by Guyana with two contracts and a 9% share and Argentina with one contract and a 5% share. It saw an increase of 143% over the previous month’s total of seven contracts and an increase of 31% when compared with the last 12 month-average 13 contracts in Brazil.

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


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

Looking at oil and gas contracts by segment in South America, upstream segment contributed the most in terms of the contracts awarded, with 21 contracts in November 2021, followed by downstream with one contract.

Contracts by scope of work in South America during November 2021

During November 2021, the majority of the contracts awarded were in the operations & maintenance and procurement space with 10 contracts each, followed by design & engineering with six contracts.

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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