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July 14, 2022

Contract activities in upstream segment in South America up 6% in Q2 2022

By Carmen

The upstream segment contracts in South America registered an increase of 6% with 52 contracts in Q2 2022, when compared with the previous quarter’s total of 49 contracts, according to GlobalData’s oil and gas contracts database.

A total of 52 contracts were registered in the upstream segment of South America during the quarter, when compared with the last four-quarter moving average of 62 contracts.


In terms of the number of contracts in South America, the upstream segment contributed the most with 52 contracts in Q2 2022, followed by midstream and downstream segments with eight and three contracts, respectively.


Contract award activity in South America’s upstream segment during Q2 2022

Looking at the total oil and gas contracts by country in the upstream segment of South America, Brazil led the activity in Q2 2022 with 40 contracts and a 77% share. It saw an increase of 18% over the previous quarter’s total of 34 contracts and a decrease of 5% when compared with the last four-quarter-average of 42 contracts in Brazil.

In second place was Guyana with five contracts and a 10% share, followed by Suriname with three contracts and a 6% share.

Based on five-quarter moving average of the contracts in the upstream segment of South America, Brazil took the top spot with 42 contracts, followed by Guyana and Colombia with seven and four contracts, respectively.

Contracts by scope of work in South America’s upstream segment during Q2 2022

During the quarter, the majority of upstream segment contracts awarded in the South America were in the operations & maintenance with 21 contracts, followed by procurement and design & engineering with 17 contracts each.

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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