Oil and gas contracts in South America registered a decrease of 15% in Q4 2021 with 63 contracts, when compared with 74 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 9%, when compared with the last four-quarter average of 69 contracts.
Contract award activity in South America during Q4 2021
Looking at contracts by country, Brazil led the activity in Q4 2021 with 45 contracts and a 71% share of all the oil and gas contracts in the region, followed by Colombia and Guyana with three contracts and a 5% share each. It saw an increase of 5% over the previous quarter’s 43 contracts and an increase of 13% when compared with the last four-quarter-average of 40 contracts in Brazil.
Based on five-quarter moving average, Brazil took the top spot with 41 contracts, followed by Guyana and Colombia with eight and five contracts, respectively.
South America’s oil and gas contracts by segment in Q4 2021
Looking at oil and gas contracts by segment in South America, upstream segment contributed the most in terms of the contracts awarded, with 56 contracts in Q4 2021, followed by midstream and downstream with four and three contracts, respectively.
Contracts by scope of work in South America during Q4 2021
During that quarter, the majority of the contracts awarded were in the operations & maintenance space with 37 contracts, followed by procurement and design & engineering with 23 and 12 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.