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  1. Market Data
April 13, 2022

Oil and gas contracts in South America down 21% in Q1 2022

By Carmen

Oil and gas contracts in South America registered a decrease of 21% in Q1 2022 with 54 contracts, when compared with 68 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 21%, when compared with the last four-quarter average of 68 contracts.


Contract award activity in South America during Q1 2022

Looking at contracts by country, Brazil led the activity in Q1 2022 with 32 contracts and a 59% share of all the oil and gas contracts in the region, followed by Guyana with six contracts and an 11% share and Argentina with four contracts and a 7% share. It saw a decrease of 32% over the previous quarter’s 47 contracts and a decrease of 22% when compared with the last four-quarter-average of 41 contracts in Brazil.

Based on five-quarter moving average, Brazil took the top spot with 39 contracts, followed by Guyana and Colombia with seven and five contracts, respectively.


South America’s oil and gas contracts by segment in Q1 2022

Looking at oil and gas contracts by segment in South America, upstream segment contributed the most in terms of the contracts awarded, with 45 contracts in Q1 2022, followed by midstream and downstream with five and four contracts, respectively.

Contracts by scope of work in South America during Q1 2022

During that quarter, the majority of the contracts awarded were in the operations & maintenance space with 27 contracts, followed by procurement and design & engineering with 14 and 13 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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