Oil and gas contracts in South America registered an increase of 26% in November 2022 with 24 contracts, when compared with 19 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 24 contracts.
Contract award activity in South America during November 2022
Looking at contracts by country, Brazil led the activity in November 2022 with 14 contracts representing a 58% share of all the oil and gas contracts, followed by Guyana with eight contracts and a 33% share and Uruguay with one contract and a 4% share. It saw an increase of 56% over the previous month’s total of nine contracts and a decrease of 13% when compared with the last 12 month-average 16 contracts in Brazil.
Based on 12-month moving average, Brazil took the top spot with 15 contracts, followed by Guyana and Argentina with three and one contract, respectively.
South America’s oil and gas contracts by segment in November 2022
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 November 2022, followed by downstream and midstream segments with one contract each.
Contracts by scope of work in South America during November 2022
During November 2022, the majority of the contracts awarded were in the operations & maintenance space with 10 contracts, followed by procurement and design & engineering with eight and five 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.