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  1. Market Data
July 14, 2022

Contract activities in upstream segment in South America down 5% in June 2022

By Carmen

The upstream segment contracts in South America registered a decrease of 5% with 18 contracts in June 2022, when compared with the previous month’s total of 19 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 21 contracts.


In terms of the number of contracts in South America, the upstream segment contributed the most with 18 contracts in June 2022, followed by downstream and midstream segments with one contract each.


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

In June 2022, Brazil led the activity with 12 contracts and a 67% share of the upstream oil and gas contracts in South America. It saw a decrease of 25% over the previous month’s total of 16 contracts and a decrease of 20% when compared with the last 12 month-average of 15 contracts in Brazil, followed by Colombia and Suriname with two contracts 11% share each.

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 June 2022

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