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September 15, 2022

Contract activities in upstream segment in South America down 10% in August 2022

By Carmen

The upstream segment contracts in South America registered a decrease of 10% with 18 contracts in August 2022, when compared with the previous month’s total of 20 contracts, according to GlobalData’s oil and gas contracts database.

A total of 18 contracts were registered in the upstream segment of South America during the month, when compared with the last 12-month moving average of 19 contracts.


In terms of the number of contracts in South America, the upstream segment contributed the most with 18 contracts in August 2022, followed by midstream and petrochemicals segments with three and one contract, respectively.


Contract award activity in South America’s upstream segment during August 2022

In August 2022, Brazil led the activity with 11 contracts and a 61% share of the upstream oil and gas contracts in South America. It saw a decrease of 35% over the previous month’s total of 17 contracts and a decrease of 21% when compared with the last 12 month-average of 14 contracts in Brazil.

In second place was Guyana with three contracts and a 17% share, followed by Peru with one contract and a 6% share.

Based on 12-month moving average of the contracts in the upstream segment of South America, Brazil took the top spot with 14 contracts, followed by Guyana and Colombia with two and one contract, respectively.

Contracts by scope of work in South America’s upstream segment during August 2022

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