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December 14, 2021

Contract activities in upstream segment in South America up 50% in November 2021

By Carmen

The upstream segment contracts in South America registered an increase of 50% with 21 contracts in November 2021, when compared with the previous month’s total of 14 contracts, according to GlobalData’s oil and gas contracts database.

A total of 21 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 21 contracts in November 2021, followed by downstream with one contract.


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

In November 2021, Brazil led the activity with 17 contracts and an 81% share of the upstream oil and gas contracts in South America. It saw an increase of 143% over the previous month’s total of seven contracts and an increase of 55% when compared with the last 12 month-average of 11 contracts in Brazil.

In second place was Guyana with two contracts and a 10% share, followed by Ecuador 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 11 contracts, followed by Guyana and Colombia with three and two contracts, respectively.

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

During the month, the majority of upstream segment contracts awarded in the South America were in the operations & maintenance and procurement with 10 contracts each, followed by design & engineering with five contracts.

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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