Oil and gas contracts in Africa registered a decrease of 6% in Q3 2022 with 58 contracts, when compared with 62 contracts in the previous quarter, according to GlobalData ’s oil and gas contracts database.
The activity marked a decrease of 26%, when compared with the last four-quarter average of 78 contracts.
Contract award activity in Africa during Q3 2022
Looking at contracts by country, Angola led the activity in Q3 2022 with 12 contracts and a 21% share of all the oil and gas contracts in the region, followed by Nigeria with six contracts and a 10% share and Egypt with five contracts and a 9% share. It saw an increase of 200% over the previous quarter’s four contracts and an increase of 71% when compared with the last four-quarter-average of seven contracts in Angola.
Based on five-quarter moving average, Nigeria took the top spot with 11 contracts, followed by Egypt and Angola with 10 and eight contracts, respectively.
Africa’s oil and gas contracts by segment in Q3 2022
Looking at oil and gas contracts by segment in Africa, upstream segment contributed the most in terms of the contracts awarded, with 52 contracts in Q3 2022, followed by midstream with five contracts.
Contracts by scope of work in Africa during Q3 2022
During that quarter, the majority of the contracts awarded were in the operations & maintenance space with 27 contracts, followed by procurement and design & engineering with 25 and 15 contracts, respectively.
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.