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September 29, 2021updated 06 Oct 2021 4:58pm

Contract activities in upstream segment in Africa down 26% in Q2 2021

By Carmen

The upstream segment contracts in Africa registered a decrease of 26% with 48 contracts in Q2 2021, when compared with the previous quarter’s total of 65 contracts, according to GlobalData’s oil and gas contracts database.

A total of 48 contracts were registered in the upstream segment of Africa during the quarter, when compared with the last four-quarter moving average of 50 contracts.

 

In terms of the number of contracts in Africa, the upstream segment contributed the most with 48 contracts in Q2 2021, followed by midstream and downstream segments with 14 and seven contracts, respectively.

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Contract award activity in Africa’s upstream segment during Q2 2021

Looking at the total oil and gas contracts by country in the upstream segment of Africa, Angola led the activity in Q2 2021 with nine contracts and a 19% share. It saw a decrease of 50% over the previous quarter’s total of 18 contracts and a flat growth when compared with the last four-quarter-average of nine contracts in Angola.

In second place was Senegal with five contracts and a 10% share, followed by Egypt with four contracts and an 8% share.

Based on five-quarter moving average of the contracts in the upstream segment of Africa, Angola and Nigeria took the top spot with nine contracts each.

Contracts by scope of work in Africa’s upstream segment during Q2 2021

During the quarter, the majority of upstream segment contracts awarded in the Africa were in the operations & maintenance with 31 contracts, followed by design & engineering with 15 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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