The upstream segment contracts in South America registered an increase of 27% with 19 contracts in May 2022, when compared with the previous month’s total of 15 contracts, according to GlobalData’s oil and gas contracts database.

A total of 19 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 19 contracts in May 2022, followed by midstream and downstream segments with six and two contracts, respectively.


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

In May 2022, Brazil led the activity with 16 contracts and an 84% share of the upstream oil and gas contracts in South America. It saw an increase of 33% over the previous month’s total of 12 contracts and an increase of 14% when compared with the last 12 month-average of 14 contracts in Brazil.

In second place was Guyana with two contracts and an 11% share, followed by Suriname 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 14 contracts, followed by Guyana and Colombia with three and one contract, respectively.

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

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