Cameroon Oil & Gas Report

Published 09 April 2015

  • 112 pages
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  • Includes 3 free updated quarterly reports
 
$1,295.00
Cameroon Oil & Gas Report

BMI View: Cameroon is a small producer of oil and a nascent gas producer. Oil production should slightly increase, after years of decline, with several small projects coming online. This is supported by the 2014 figures, which suggest that oil production in Cameroon increased 12%. BMI believes that Cameroon could stand to benefit from lower oil prices as oil companies refocus investments towards more proven offshore plays. However, declining oil revenues could weigh on downstream developments as the government struggles to finance large-scale projects such as Sonara refinery development. A c hanging economic environment has also seen some turbulence in ownership structures as Murphy exited Ntem concession and Bowleven reduced its stake in Etinde block.

Headline Forecasts (Cameroon 2013-2019)
2013 2014e 2015f 2016f 2017f 2018f 2019f
e/f = BMI estimate/forecast. Source: BMI/EIA
Crude, NGPL & other liquids prod, 000b/d 62.9 75.3 82.9 80.6 81.1 83.5 83.2
Dry natural gas production, bcm 0.2 0.3 0.4 0.4 0.9 1.1 1.1
Dry natural gas consumption, bcm 0.2 0.3 0.4 0.4 0.9 1.1 1.1
Refined products production & ethanol, 000b/d 41.8 43.0 43.0 43.0 58.1 59.3 59.9
Refined products consumption & ethanol, 000b/d 29.7 31.8 33.7 35.7 37.8 40.1 42.5
  • Ongoing exploration provides much-needed upside risk to Cameroon's oil reserves. The country's offshore basins are the most prospective, with the Rio del Rey Basin to attract the most interest. However, Cameroon lacks access to the deepwater acreage where sub-salt prospects running from Sierra Leone to Angola have attracted interest from international oil companies (IOCs) and several smaller players.

  • Oil production came in at 75,342 barrels per day (b/d) in 2014, a 19.8% increase from 2013 production but remains shy of the projected 82,000b/d by Cameroon's national oil...

Table of Contents

BMI Industry View
7
Table: Headline Forecasts (Cameroon 2013-2019)
7
SWOT
9
Oil & Gas SWOT
9
Industry Forecast
10
Upstream Exploration
10
Table: Proven Oil and Gas Reserves (Cameroon 2013-2018)
10
Table: Proven Oil and Gas Reserves (Cameroon 2019-2024)
10
Table: Cameroon Licensing Round
14
Upstream Projects
15
Table: Upstream Project Database
15
Upstream Production - Oil
16
Table: Oil Production (Cameroon 2013-2018)
16
Table: Oil Production (Cameroon 2019-2024)
16
Upstream Production - Gas
19
Table: Gas Production (Cameroon 2013-2018)
19
Table: Gas Production (Cameroon 2019-2024)
19
Refining
23
Table: Refining Capacity and Refined Products Production (Cameroon 2013-2018)
23
Table: Refining Capacity and Refined Products Production (Cameroon 2019-2024)
23
Refined Fuels Consumption
26
Table: Refined Products Consumption* (Cameroon 2013-2018)
26
Table: Refined Products Consumption* (Cameroon 2019-2024)
26
Gas Consumption
28
Table: Gas Consumption (Cameroon 2013-2018)
28
Table: Gas Consumption (Cameroon 2019-2024)
28
Trade - Oil
32
Table: Crude Oil Net Exports (Cameroon 2013-2018)
32
Table: Crude Oil Net Exports (Cameroon 2019-2024)
32
Table: Refined Fuels Net Exports (Cameroon 2013-2018)
34
Table: Refined Fuels Net Exports (Cameroon 2019-2024)
34
Table: Total Net Oil Exports - Crude and Products (Cameroon 2013-2018)
35
Table: Total Net Oil Exports - Crude and Products (Cameroon 2019-2024)
36
Trade - Gas (Pipeline and LNG)
36
Industry Risk Reward Ratings
37
Africa Oil & Gas Risk/Reward Index
37
Table: BMI's Africa Oil And Gas Risk/Reward Index
38
Above-Ground Risks Dampen Upstream Outlook
40
Table: BMI's Africa Upstream Risk/Reward Index
40
Emergent Producers Stumble At Regulatory Hurdles
41
Mature Producers Continue To Underperform Their Potential
42
Falling Oil Price Trims Rewards
42
An Underwhelming Downstream
43
Table: BMI's Africa Downstream Risk/Reward Index
43
Cameroon - Risk/Reward Index
44
Market Overview
47
Cameroon Energy Market Overview
47
Oil And Gas Infrastructure
52
Oil Refineries
52
Table: Refineries In Cameroon
52
Service Stations
53
Oil Storage Facilities
53
Oil Terminals/Ports
53
Oil Pipelines
53
LNG Terminal
54
Competitive Landscape
56
Competitive Landscape Summary
56
Table: Key Players - Cameroon Energy Sector
57
Table: Key Upstream Players
57
Table: Key Downstream Players
58
Company Profile
59
Perenco
59
Other Summaries
63
Regional Overview
70
Africa Oil & Gas Regional Overview
70
Lower Risk Appetite Slowing Exploration Drive
70
Unconventionals: A New Frontier
73
East Africa: Offshore Gas, Onshore Oil
75
High-Risk Continent
76
Downstream Blues
78
Global Industry Overview
81
Global Industry Overview - Five Themes For 2015: Oil & Gas
81
Table: LNG Export Terminals At Pre-FID Stage
86
Appendix
88
Africa - Regional Appendix
88
Table: Oil Consumption - Historical Data & Forecasts, 2011-2018 ('000b/d)
88
Table: Oil Consumption - Long-Term Forecasts, 2015-2023 ('000b/d)
89
Table: Oil Production - Historical Data & Forecasts, 2011-2018 ('000b/d)
89
Table: Oil Production - Long-Term Forecasts, 2015-2023 ('000b/d)
90
Table: Refining Capacity - Historical Data & Forecasts, 2011-2018 ('000b/d)
91
Table: Refining Capacity - Long-Term Forecasts, 2015-2023 ('000b/d)
92
Table: Gas Consumption - Historical Data & Forecasts, 2011-2018 (bcm)
92
Table: Gas Consumption - Long-Term Forecasts, 2015-2023 (bcm)
93
Table: Gas Production - Historical Data & Forecasts, 2011-2018 (bcm)
94
Table: Gas Production - Long-Term Forecasts, 2015-2023 (bcm)
95
Table: LNG Net Exports - Historical Data & Forecasts, 2011-2018 (bcm)
95
Table: LNG Net Exports - Long-Term Forecasts, 2015-2023 (bcm)
96
Cameroon - Total Hydrocarbons, 10-year Forecasts
97
Table: Total Hydrocarbons Production, Consumption and Net Exports (Cameroon 2013-2018)
97
Table: Total Hydrocarbons Production, Consumption and Net Exports (Cameroon 2019-2024)
97
Cameroon - Refined Products Breakdown, 10-year Forecasts
98
Table: Refined Petroleum Products, Production Breakdown (Cameroon 2013-2018)
98
Table: Refined Petroleum Products, Production Breakdown (Cameroon 2019-2024)
99
Table: Refined Petroleum Products, Consumption Breakdown (Cameroon 2013-2018)
100
Table: Refined Petroleum Products, Consumption Breakdown (Cameroon 2019-2024)
101
Table: Refined Petroleum Products, Net Exports Breakdown (Cameroon 2013-2018)
102
Table: Refined Petroleum Products, Net Exports Breakdown (Cameroon 2019-2024)
103
Glossary
105
Table: Glossary Of Terms
105
Methodology
107
Industry Forecast Methodology
107
Source
109
Risk/Reward Index Methodology
109
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
111
Table: Weighting
112

The Cameroon Oil & Gas Report has been researched at source and features BMI Research's independent forecasts for Cameroon including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Cameroon Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Cameroonian oil and gas industry.

Key Benefits

  • Benchmark BMI's independent oil and gas industry forecasts for Cameroon to test consensus views - a key input for successful budgeting and strategic business planning in the Cameroonian oil and gas market.
  • Target business opportunities and risks in the Cameroonian oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Cameroon.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View

Summary of BMI’s key forecasts and industry analysis, covering oil and gas reserves, supply, demand and refining, plus analysis of landmark company developments and key changes in the regulatory environment.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the upstream and downstream sectors and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series and forecasts to end-2024 for all key industry indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecast:

  • Pricing: Oil price (USD/bbl, WTI, Brent, OPEC basket, Urals); oil products prices (unleaded gasoline, gasoil/diesel, jet/kerosene – USD/bbl) at global hubs.
  • Production, Consumption, Capacity & Reserves: Proven oil reserves (bn barrels), production, consumption, refinery capacity and throughputs (‘000b/d); proven gas reserves (tcm), production and consumption (bcm) and fuels trade.
  • Imports & Exports: Crude oil exports/imports (‘000s b/d) and value of crude oil trade in USD. Fuels exports/imports (‘000s b/d) and value of fuels trade in USD. Natural gas imports/exports (bcm), by pipeline and/or LNG, and value of natural gas trade.

BMI’s Oil & Gas Risk Reward Index

BMI’s Risk Reward Indices provide investors (independents, NOCs, IOCs, oil services companies) looking for opportunities in the region with a clear country-comparative assessment of the upstream and downstream market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.

Market Overview

A profile of the upstream and downstream sectors, including analysis of reserves, output, consumption and trade of energy products; overview of the industry landscape and key players; assessment of the business operating environment and the latest regulatory developments.

Competitive landscape

Comparative company analyses by USD sales, % share of total sales, number of employees, year established, ownership structure, oil production (‘000b/d), gas production (bcm), downstream capacity (‘000b/d) and % market share.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Regional Overview

Regional perspective on size and value of the industry. Plus comparative rankings by production, refining, imports and exports of oil, gas and LNG.

Global Oil Market & Oil Products Outlook

Based on our country coverage of over 99% of global oil and gas production and consumption, BMI provides demand, supply and price forecasts to end-2024 for oil, gas and oil products.

Sources

The Oil & gas Reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc