The upstream segment contracts in South America registered an increase of 69% with 22 contracts in November 2022, when compared with the previous month’s total of 13 contracts, according to GlobalData’s oil and gas contracts database.

A total of 22 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 22 contracts in November 2022, followed by downstream and midstream segments with one contract each.


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

In November 2022, Brazil led the activity with 12 contracts and a 55% share of the upstream oil and gas contracts in South America. It saw an increase of 50% over the previous month’s total of eight contracts and a decrease of 20% when compared with the last 12 month-average of 15 contracts in Brazil.

In second place was Guyana with eight contracts and a 36% share, followed by Uruguay with one contract and a 5% share.

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By GlobalData

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 Argentina with three and one contract, respectively.

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

During the month, the majority of upstream segment contracts awarded in the South America were in the operations & maintenance and procurement with eight 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.