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  1. Market Data
July 14, 2022

Contract activities in upstream segment in North America up 53% in June 2022

By Carmen

The upstream segment contracts in North America registered an increase of 53% with 124 contracts in June 2022, when compared with the previous month’s total of 81 contracts, according to GlobalData’s oil and gas contracts database.

A total of 124 contracts were registered in the upstream segment of North America during the month, when compared with the last 12-month moving average of 76 contracts.


In terms of the number of contracts in North America, the upstream segment contributed the most with 124 contracts in June 2022, followed by midstream and downstream segments with nine and three contracts, respectively.


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

In June 2022, the US led the activity with 116 contracts and a 94% share of the upstream oil and gas contracts in North America. It saw an increase of 47% over the previous month’s total of 79 contracts and an increase of 71% when compared with the last 12 month-average of 68 contracts in the US, followed by Canada and Mexico with three contracts 2% share each.

Based on 12-month moving average of the contracts in the upstream segment of North America, the US took the top spot with 73 contracts, followed by Canada and Mexico with four contracts each.

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

During the month, the majority of upstream segment contracts awarded in the North America were in the operations & maintenance with 111 contracts, followed by design & engineering and procurement with nine and four 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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