The upstream segment contracts in South America registered a decrease of 65% with eight contracts in January 2022, when compared with the previous month’s total of 23 contracts, according to GlobalData’s oil and gas contracts database.

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A total of eight 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 eight contracts in January 2022.

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

In January 2022, Brazil led the activity with five contracts and a 63% share of the upstream oil and gas contracts in South America. It saw an increase of 500% over the previous month’s no contracts and a decrease of 58% when compared with the last 12 month-average of 12 contracts in Brazil.

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In second place was Guyana with two contracts and a 25% share.

Based on 12-month moving average of the contracts in the upstream segment of South America, Brazil took the top spot with 13 contracts, followed by Guyana and Colombia with three and two contracts, respectively.

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

During the month, the majority of upstream segment contracts awarded in the South America were in the operations & maintenance with five contracts, followed by procurement and installation with three contracts each.

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.