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September 29, 2021updated 04 Oct 2021 3:13pm

Oil and gas contracts in South America up 32% in Q2 2021

By Carmen

Oil and gas contracts in South America registered an increase of 32% in Q2 2021 with 70 contracts, when compared with 53 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.

The activity marked an increase of 32%, when compared with the last four-quarter average of 53 contracts.

 

Contract award activity in South America during Q2 2021

Looking at contracts by country, Brazil led the activity in Q2 2021 with 43 contracts and a 61% share of all the oil and gas contracts in the region, followed by Colombia with nine contracts and a 13% share and Guyana with eight contracts and an 11% share. It saw an increase of 59% over the previous quarter’s 27 contracts and an increase of 30% when compared with the last four-quarter-average of 33 contracts in Brazil.

Based on five-quarter moving average, Brazil took the top spot with 35 contracts, followed by Guyana and Argentina with six and three contracts, respectively.

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South America’s oil and gas contracts by segment in Q2 2021

Looking at oil and gas contracts by segment in South America, upstream segment contributed the most in terms of the contracts awarded, with 65 contracts in Q2 2021.

Contracts by scope of work in South America during Q2 2021

During that quarter, the majority of the contracts awarded were in the operations & maintenance space with 31 contracts, followed by procurement and design & engineering with 25 and 23 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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