Cameroon Oil & Gas Report

Published 09 April 2015

  • 112 pages
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$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 2012-2018)
7
SWOT
9
Oil & Gas SWOT
9
Industry Forecast
10
Upstream Exploration
10
Table: Proven Oil and Gas Reserves (Cameroon 2012-2017)
10
Table: Proven Oil and Gas Reserves (Cameroon 2018-2023)
10
Table: Cameroon Licensing Round
13
Upstream Projects
15
Table: Upstream Project Database
15
Upstream Production - Oil
16
Table: Oil Production (Cameroon 2012-2017)
16
Table: Oil Production (Cameroon 2018-2023)
16
Upstream Production - Gas
19
Table: Gas Production (Cameroon 2012-2017)
19
Table: Gas Production (Cameroon 2018-2023)
19
Refining
23
Table: Refining Capacity and Refined Products Production (Cameroon 2012-2017)
23
Table: Refining Capacity and Refined Products Production (Cameroon 2018-2023)
23
Refined Fuels Consumption
26
Table: Refined Products Consumption* (Cameroon 2012-2017)
26
Table: Refined Products Consumption* (Cameroon 2018-2023)
26
Gas Consumption
28
Table: Gas Consumption (Cameroon 2012-2017)
28
Table: Gas Consumption (Cameroon 2018-2023)
28
Trade - Oil
31
Table: Crude Oil Net Exports (Cameroon 2012-2017)
31
Table: Crude Oil Net Exports (Cameroon 2018-2023)
31
Table: Refined Fuels Net Exports (Cameroon 2012-2017)
33
Table: Refined Fuels Net Exports (Cameroon 2018-2023)
33
Table: Total Net Oil Exports - Crude and Products (Cameroon 2012-2017)
34
Table: Total Net Oil Exports - Crude and Products (Cameroon 2018-2023)
35
Trade - Gas (Pipeline and LNG)
35
Industry Risk Reward Ratings
36
Africa - Risk/Reward Ratings
36
Table: BMI's Africa Oil And Gas Risk/Reward Ratings
36
Riches Lie Underground, While Above-Ground Risks Continue To Loom
39
Table: BMI's Africa Upstream Risk/Reward Ratings
39
A Dimming Outlook for Emergent Producers
39
Angola in the Ascendant
40
Brightening Horizons to the West
41
Mature Producers Continue to Disappoint
41
An Underwhelming Downstream
43
Table: BMI's Africa Downstream Risk/Reward Ratings
43
Cameroon - Risk/Reward Ratings
44
Market Overview
46
Cameroon Energy Market Overview
46
Oil And Gas Infrastructure
50
Oil Refineries
50
Table: Refineries In Cameroon
50
Service Stations
51
Oil Storage Facilities
51
Oil Terminals/Ports
51
Oil Pipelines
51
LNG Terminal
52
Competitive Landscape
53
Competitive Landscape Summary
53
Table: Key Players - Cameroon Energy Sector
54
Table: Key Upstream Players
54
Table: Key Downstream Players
55
Company Profile
56
Perenco
56
Other Summaries
60
Regional Overview
67
Africa Overview
67
Rising Offshore Interest
67
Unconventionals : New Frontier
70
East Africa: Offshore Gas, Onshore Oil
71
Downstream Blues
73
High-Risk Continent
76
Global Market Views
79
Global Energy Market Overview
79
Appendix
85
Global - Crude Oil, Refined Fuels And Natural Gas Prices, 10-year Forecasts
85
Table: Energy Price Forecasts, 2012-2017
85
Table: Energy Price Forecasts, 2018-2023
86
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)
91
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)
93
Table: Gas Production - Long-Term Forecasts, 2015-2023 (bcm)
94
Table: LNG Net Exports - Historical Data & Forecasts, 2011-2018 (bcm)
95
Table: LNG Net Exports - Long-Term Forecasts, 2015-2023 (bcm)
95
Cameroon - Refined Products Breakdown, 10-year Forecasts
96
Table: Refined Petroleum Products, Production Breakdown (Cameroon 2012-2017)
96
Table: Refined Petroleum Products, Production Breakdown (Cameroon 2018-2023)
97
Table: Refined Petroleum Products, Consumption Breakdown (Cameroon 2012-2017)
98
Table: Refined Petroleum Products, Consumption Breakdown (Cameroon 2018-2023)
99
Table: Refined Petroleum Products, Net Exports Breakdown (Cameroon 2012-2017)
100
Table: Refined Petroleum Products, Net Exports Breakdown (Cameroon 2018-2023)
101
Cameroon - Total Hydrocarbons, 10-year Forecasts
103
Table: Total Hydrocarbons Production, Consumption and Net Exports (Cameroon 2012-2017)
103
Table: Total Hydrocarbons Production, Consumption and Net Exports (Cameroon 2018-2023)
103
Glossary
105
Table: Glossary Of Terms
105
Methodology
107
Industry Forecast Methodology
107
Source
109
Risk/Reward Ratings Methodology
109
Table: Bmi's Oil & Gas Upstream Risk/Reward Ratings
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