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  1. Market Data
July 14, 2022

Oil and gas contracts in Africa down 9% in Q2 2022

By Carmen

Oil and gas contracts in Africa registered a decrease of 9% in Q2 2022 with 59 contracts, when compared with 65 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.

The activity marked a decrease of 27%, when compared with the last four-quarter average of 81 contracts.


Contract award activity in Africa during Q2 2022

Looking at contracts by country, Egypt led the activity in Q2 2022 with nine contracts and a 15% share of all the oil and gas contracts in the region, followed by Nigeria with seven contracts and a 12% share and Senegal with five contracts and an 8% share. It saw an increase of 50% over the previous quarter’s six contracts and a decrease of 25% when compared with the last four-quarter-average of 12 contracts in Egypt.

Based on five-quarter moving average, Nigeria took the top spot with 12 contracts, followed by Egypt and Angola with 11 and seven contracts, respectively.


Africa’s oil and gas contracts by segment in Q2 2022

Looking at oil and gas contracts by segment in Africa, upstream segment contributed the most in terms of the contracts awarded, with 44 contracts in Q2 2022, followed by midstream and downstream with seven and six contracts, respectively.

Contracts by scope of work in Africa during Q2 2022

During that quarter, the majority of the contracts awarded were in the operations & maintenance space with 30 contracts, followed by design & engineering and procurement with 27 and 13 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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