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March 21, 2022

Contract activities in upstream segment in South America up 222% in February 2022

By Carmen

The upstream segment contracts in South America registered an increase of 222% with 29 contracts in February 2022, when compared with the previous month’s total of nine contracts, according to GlobalData’s oil and gas contracts database.

A total of 29 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 29 contracts in February 2022, followed by downstream and midstream segments with three contracts each.


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

In February 2022, Brazil led the activity with 20 contracts and a 69% share of the upstream oil and gas contracts in South America. It saw an increase of 233% over the previous month’s total of six contracts and an increase of 54% when compared with the last 12 month-average of 13 contracts in Brazil.

In second place was Guyana with four contracts and a 14% share, followed by Ecuador with two contracts and a 7% 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 three and two contracts, respectively.

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

During the month, the majority of upstream segment contracts awarded in the South America were in the operations & maintenance with 19 contracts, followed by design & engineering and installation with six 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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