Oil and gas contracts in South America registered a decrease of 7% in Q3 2022 with 66 contracts, when compared with 71 contracts in the previous quarter, according to GlobalData ’s oil and gas contracts database.
The activity marked a decrease of 7%, when compared with the last four-quarter average of 71 contracts.
Contract award activity in South America during Q3 2022
Looking at contracts by country, Brazil led the activity in Q3 2022 with 46 contracts and a 70% share of all the oil and gas contracts in the region, followed by Guyana with eight contracts and a 12% share and Argentina with four contracts and a 6% share. It saw a decrease of 2% over the previous quarter’s 47 contracts and an increase of 2% when compared with the last four-quarter-average of 45 contracts in Brazil.
Based on five-quarter moving average, Brazil took the top spot with 45 contracts, followed by Guyana and Argentina with eight and four contracts, respectively.
South America’s oil and gas contracts by segment in Q3 2022
Looking at oil and gas contracts by segment in South America, upstream segment contributed the most in terms of the contracts awarded, with 58 contracts in Q3 2022, followed by midstream with nine contracts.
Contracts by scope of work in South America during Q3 2022
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 20 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.