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January 11, 2022

Contract activities in upstream segment in South America down 9% in December 2021

By Carmen

The upstream segment contracts in South America registered a decrease of 9% with 20 contracts in December 2021, when compared with the previous month’s total of 22 contracts, according to GlobalData’s oil and gas contracts database.

A total of 20 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 20 contracts in December 2021, followed by midstream and downstream segments with three and one contract, respectively.


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

In December 2021, Brazil led the activity with 19 contracts and a 95% share of the upstream oil and gas contracts in South America. It saw an increase of 6% over the previous month’s total of 18 contracts and an increase of 73% when compared with the last 12 month-average of 11 contracts in Brazil.

In second place was Colombia 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 Colombia and Guyana with two contracts each.

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

During the month, the majority of upstream segment contracts awarded in the South America were in the operations & maintenance with 15 contracts, followed by procurement and design & engineering with six and two 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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