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November 12, 2021

Contract activities in upstream segment in South America down 7% in October 2021

By Carmen

The upstream segment contracts in South America registered a decrease of 7% with 14 contracts in October 2021, when compared with the previous month’s total of 15 contracts, according to GlobalData’s oil and gas contracts database.

A total of 14 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 14 contracts in October 2021, followed by midstream with one contract.


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

In October 2021, Brazil led the activity with seven contracts and a 50% share of the upstream oil and gas contracts in South America. It saw a decrease of 22% over the previous month’s total of nine contracts and a decrease of 42% when compared with the last 12 month-average of 12 contracts in Brazil, followed by Colombia and Peru with two contracts 14% share each.

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 October 2021

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