Oil and gas contracts in South America registered a decrease of 30% in October 2022 with 19 contracts, when compared with 27 contracts in the previous month, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 21%, when compared with the last 12-month average of 24 contracts.
Contract award activity in South America during October 2022
Looking at contracts by country, Brazil led the activity in October 2022 with nine contracts representing a 47% share of all the oil and gas contracts, followed by Colombia with three contracts and a 16% share and Guyana with two contracts and an 11% share. It saw a decrease of 55% over the previous month’s total of 20 contracts and a decrease of 44% when compared with the last 12 month-average 16 contracts in Brazil.
Based on 12-month moving average, Brazil took the top spot with 16 contracts, followed by Argentina and Guyana with two contracts each.
South America’s oil and gas contracts by segment in October 2022
Looking at oil and gas contracts by segment in South America, upstream segment contributed the most in terms of the contracts awarded, with 13 contracts in October 2022, followed by midstream and petrochemicals with four and one contract, respectively.
Contracts by scope of work in South America during October 2022
During October 2022, the majority of the contracts awarded were in the procurement space with nine contracts, followed by operations & maintenance and design & engineering with eight and six 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.