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September 29, 2021updated 08 Oct 2021 8:17am

Contract activities in upstream segment in South America up 59% in Q2 2021

By Carmen

The upstream segment contracts in South America registered an increase of 59% with 65 contracts in Q2 2021, when compared with the previous quarter’s total of 41 contracts, according to GlobalData’s oil and gas contracts database.

A total of 65 contracts were registered in the upstream segment of South America during the quarter, when compared with the last four-quarter moving average of 47 contracts.

 

In terms of the number of contracts in South America, the upstream segment contributed the most with 65 contracts in Q2 2021, followed by petrochemicals and downstream segments with two contracts each.

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Contract award activity in South America’s upstream segment during Q2 2021

Looking at the total oil and gas contracts by country in the upstream segment of South America, Brazil led the activity in Q2 2021 with 42 contracts and a 65% share. It saw an increase of 110% over the previous quarter’s total of 20 contracts and an increase of 45% when compared with the last four-quarter-average of 29 contracts in Brazil.

In second place was Guyana with eight contracts and a 12% share, followed by Colombia with seven contracts and an 11% share.

Based on five-quarter moving average of the contracts in the upstream segment of South America, Brazil took the top spot with 32 contracts, followed by Guyana and Argentina with six and three contracts, respectively.

Contracts by scope of work in South America’s upstream segment during Q2 2021

During the quarter, the majority of upstream segment contracts awarded in the South America were in the operations & maintenance with 30 contracts, followed by procurement and design & engineering with 23 and 20 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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