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  1. Market Data
January 11, 2022

Contract activities in upstream segment in South America down 13% in Q4 2021

By Carmen

The upstream segment contracts in South America registered a decrease of 13% with 56 contracts in Q4 2021, when compared with the previous quarter’s total of 64 contracts, according to GlobalData’s oil and gas contracts database.

A total of 56 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 56 contracts in Q4 2021, followed by midstream and downstream segments with four and three contracts, respectively.


Contract award activity in South America’s upstream segment during Q4 2021

Looking at the total oil and gas contracts by country in the upstream segment of South America, Brazil led the activity in Q4 2021 with 44 contracts and a 79% share. It saw an increase of 13% over the previous quarter’s total of 39 contracts and an increase of 22% when compared with the last four-quarter-average of 36 contracts in Brazil, followed by Colombia and Guyana with three contracts 5% share each.

Based on five-quarter moving average of the contracts in the upstream segment of South America, Brazil took the top spot with 38 contracts, followed by Guyana and Colombia with eight and four contracts, respectively.

Contracts by scope of work in South America’s upstream segment during Q4 2021

During the quarter, the majority of upstream segment contracts awarded in the South America were in the operations & maintenance with 36 contracts, followed by procurement and design & engineering with 20 and nine 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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