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September 29, 2021updated 05 Oct 2021 3:23pm

Contract activities in upstream segment in South America down 15% in August 2021

By Carmen

The upstream segment contracts in South America registered a decrease of 15% with 22 contracts in August 2021, when compared with the previous month’s total of 26 contracts, according to GlobalData’s oil and gas contracts database.

A total of 22 contracts were registered in the upstream segment of South America during the month, when compared with the last 12-month moving average of 20 contracts.

 

In terms of the number of contracts in South America, the upstream segment contributed the most with 22 contracts in August 2021.

 

Contract award activity in South America’s upstream segment during August 2021

In August 2021, Brazil led the activity with 14 contracts and a 64% share of the upstream oil and gas contracts in South America. It saw a decrease of 7% over the previous month’s total of 15 contracts and an increase of 17% when compared with the last 12 month-average of 12 contracts in Brazil.

In second place was Guyana with four contracts and an 18% share, followed by Ecuador with one contract and a 5% share.

Based on 12-month moving average of the contracts in the upstream segment of South America, Brazil took the top spot with 12 contracts, followed by Guyana and Argentina with three and one contract, respectively.

Contracts by scope of work in South America’s upstream segment during August 2021

During the month, the majority of upstream segment contracts awarded in the South America were in the operations & maintenance with 13 contracts, followed by procurement with nine contracts.

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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