The upstream segment contracts in South America registered an increase of 6% with 19 contracts in September 2022, when compared with the previous month’s total of 18 contracts, according to GlobalData ’s oil and gas contracts database.

A total of 19 contracts were registered in the upstream segment of South America during the month, remained flat when compared with the last 12-month average contracts.


In terms of the number of contracts in South America, the upstream segment contributed the most with 19 contracts in September 2022, followed by midstream and downstream segments with four and one contract, respectively.


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

In September 2022, Brazil led the activity with 15 contracts and a 79% share of the upstream oil and gas contracts in South America. It saw an increase of 36% over the previous month’s total of 11 contracts and an increase of 7% when compared with the last 12 month-average of 14 contracts in Brazil.

In second place was Argentina with two contracts and an 11% share, followed by Guyana with one contract and a 5% share.

Based on 12-month moving average of the contracts in the upstream segment of South America, Brazil took the top spot with 14 contracts, followed by Guyana and Colombia with two and one contract, respectively.

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

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