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  1. Market Data
April 13, 2022

Oil and gas contracts in Africa down 26% in March 2022

By Carmen

Oil and gas contracts in Africa registered a decrease of 26% in March 2022 with 17 contracts, when compared with 23 contracts in the previous month, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 39%, when compared with the last 12-month average of 28 contracts.


Contract award activity in Africa during March 2022

Looking at contracts by country, Egypt led the activity in March 2022 with four contracts representing a 24% share of all the oil and gas contracts, followed by Nigeria with three contracts and an 18% share and South Africa with two contracts and a 12% share. It saw an increase of 300% over the previous month’s total of one contract and a flat growth when compared with the last 12 month-average four contracts in Egypt.

Based on 12-month moving average, Egypt and Nigeria took the top spot with four contracts each, followed by Angola with three contracts.


Africa’s oil and gas contracts by segment in March 2022

Looking at oil and gas contracts by segment in Africa, upstream segment contributed the most in terms of the contracts awarded, with 13 contracts in March 2022, followed by downstream and midstream segments with two contracts each.

Contracts by scope of work in Africa during March 2022

During March 2022, the majority of the contracts awarded were in the design & engineering and operations & maintenance space with seven contracts each, followed by procurement with four contracts.

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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