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September 29, 2021updated 30 Sep 2021 3:24pm

Oil and gas contracts in Africa down 24% in Q2 2021

By Carmen

Oil and gas contracts in Africa registered a decrease of 24% in Q2 2021 with 74 contracts, when compared with 97 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.

The activity marked an increase of 4%, when compared with the last four-quarter average of 71 contracts.

 

Contract award activity in Africa during Q2 2021

Looking at contracts by country, Egypt led the activity in Q2 2021 with 13 contracts and an 18% share of all the oil and gas contracts in the region, followed by Nigeria with 12 contracts and a 16% share and Angola with nine contracts and a 12% share. It saw a decrease of 32% over the previous quarter’s 19 contracts and an increase of 30% when compared with the last four-quarter-average of 10 contracts in Egypt.

Based on five-quarter moving average, Nigeria took the top spot with 14 contracts, followed by Egypt and Angola with 11 and 10 contracts, respectively.

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Africa’s oil and gas contracts by segment in Q2 2021

Looking at oil and gas contracts by segment in Africa, upstream segment contributed the most in terms of the contracts awarded, with 48 contracts in Q2 2021, followed by midstream and downstream with 14 and seven contracts, respectively.

Contracts by scope of work in Africa during Q2 2021

During that quarter, the majority of the contracts awarded were in the operations & maintenance space with 35 contracts, followed by design & engineering and procurement with 30 and 23 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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