The upstream segment contracts in South America registered an increase of 2% with 58 contracts in Q3 2022, when compared with the previous quarter’s total of 57 contracts, according to GlobalData ’s oil and gas contracts database.

A total of 58 contracts were registered in the upstream segment of South America during the quarter, when compared with the last four-quarter moving average of 60 contracts.


In terms of the number of contracts in South America, the upstream segment contributed the most with 58 contracts in Q3 2022, followed by midstream and petrochemicals segments with nine and one contract, respectively.


Contract award activity in South America’s upstream segment during Q3 2022

Looking at the total oil and gas contracts by country in the upstream segment of South America, Brazil led the activity in Q3 2022 with 44 contracts and a 76% share. It saw an increase of 5% over the previous quarter’s total of 42 contracts and an increase of 5% when compared with the last four-quarter-average of 42 contracts in Brazil.

In second place was Guyana with seven contracts and a 12% share, followed by Argentina with two contracts and a 3% 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 three contracts, respectively.

Contracts by scope of work in South America’s upstream segment during Q3 2022

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 22 and 17 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.