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February 11, 2022

Contract activities in upstream segment in North America up 25% in January 2022

By Carmen

The upstream segment contracts in North America registered an increase of 25% with 89 contracts in January 2022, when compared with the previous month’s total of 71 contracts, according to GlobalData’s oil and gas contracts database.

A total of 89 contracts were registered in the upstream segment of North America during the month, when compared with the last 12-month moving average of 64 contracts.


In terms of the number of contracts in North America, the upstream segment contributed the most with 89 contracts in January 2022, followed by midstream and downstream segments with eight and three contracts, respectively.


Contract award activity in North America’s upstream segment during January 2022

In January 2022, the US led the activity with 83 contracts and a 93% share of the upstream oil and gas contracts in North America. It saw an increase of 8300% over the previous month’s no contracts and an increase of 48% when compared with the last 12 month-average of 56 contracts in the US.

In second place was Mexico with three contracts and a 3% share, followed by Canada with two contracts and a 2% share.

Based on 12-month moving average of the contracts in the upstream segment of North America, the US took the top spot with 59 contracts, followed by Canada and Mexico with three contracts each.

Contracts by scope of work in North America’s upstream segment during January 2022

During the month, the majority of upstream segment contracts awarded in the North America were in the operations & maintenance with 80 contracts, followed by design & engineering and procurement with six and five 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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