Oil and gas contracts in Africa down 25% in July 2022

Oil and gas contracts in Africa were down 25 percent in July 2022 with 15 contracts, compared to 20 contracts the previous month, according to GlobalData's oil and gas contracts database.

The activity marked a decrease of 40%, compared to the average of the last 12 months of 25 contracts.

In terms of contracts by country, Angola led activity in July 2022 with six contracts representing a 40 percent share of all oil and gas contracts, followed by Egypt with two contracts and a 13 percent share and Gabon with one contract and a 7 percent share . It recorded a 500% increase over the previous month's total of one contract and a 200% increase over the average of the last two contracts in Angola over the last 12 months.

On a 12-month rolling average basis, Angola, Egypt, and Nigeria took the top spot with three contracts each.

In terms of oil and gas contracts by segment in Africa, the upstream segment has contributed the most in terms of contracts awarded, with 13 contracts in July 2022, followed by the midstream sector with one contract.

As of July 2022, the majority of contracts awarded were for operations and maintenance with seven contracts, followed by procurement and design and engineering with five and two contracts, respectively.