The upstream segment contracts in South America registered a decrease of 46% with 13 contracts in October 2022, when compared with the previous month’s total of 24 contracts, according to GlobalData’s oil and gas contracts database.

A total of 13 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 13 contracts in October 2022, followed by midstream and petrochemicals segments with four and one contract, respectively.


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

In October 2022, Brazil led the activity with eight contracts and a 62% share of the upstream oil and gas contracts in South America. It saw a decrease of 58% over the previous month’s total of 19 contracts and a decrease of 47% when compared with the last 12 month-average of 15 contracts in Brazil.

In second place was Guyana with two contracts and a 15% share, followed by Suriname with one contract and an 8% share.

Based on 12-month moving average of the contracts in the upstream segment of South America, Brazil took the top spot with 15 contracts, followed by Guyana and Argentina with two and one contract, respectively.

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

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