Equatorial Guinea Oil & Gas Report

Published 08 May 2015

  • 120 pages
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  • Includes 3 free updated quarterly reports
 
$1,295.00
Equatorial Guinea Oil & Gas Report

BMI View: Equatorial Guinea's oil output will continue to see marginal gains in 2015 on the back of several smaller projects. However, maturing fields and lack of new significant discoveries will continue to push the production volumes lower after 2015. Nonetheless, we note an upside risk to our forecast , due to increasing investor interest in West Africa's offshore potential, especially in the new lower oil price environment, as oil companies are starting to look for lower-risk and lower-cost ventures.

Headline Forecasts (Equatorial Guinea 2013-2019)
2013 2014e 2015f 2016f 2017f 2018f 2019f
BMI/EIA
Crude, NGPL & other liquids prod, '000b/d 290.8 345.8 358.3 352.4 350.2 348.0 346.0
Refined products production & ethanol, '000b/d 3.8 3.8 4.0 4.2 4.4 4.6 4.8
Refined products consumption & ethanol, '000b/d 2.3 2.8 2.6 2.6 2.6 2.6 2.7
Dry natural gas production, bcm 6.7 6.5 6.3 6.2 6.4 6.5 8.2
Dry natural gas consumption, bcm 1.7 1.6 1.5 1.4 1.4 1.4 1.4

Key Trends And Developments:

  • In April 2015, Equatorial Guinea supported African Petroleum Producers Association member countries in a joint action to reduce oil production and stabilise the market. 'We have supported these initiatives that allow us to study how to jointly stabilise prices in the future,' stated Minister of Mines, Industry and Energy of Equatorial Guinea Gabriel Mbega Obiang Lima (Your Oil and Gas News).

  • In mid-January 2015, the Equatoguinean government ratified the production sharing contract for Block EG-06, signed with ExxonMobil and GEPetrol.

  • In early January 2015, Nigeria-based energy firm Taleveras Group entered an agreement with the Equatorial Guinea government to construct an oil storage hub at Punta Europa on the island of Bioko. The facility will have a total capacity of 1.34mn tonnes of storage for crude oil and products...

Table of Contents

BMI Industry View
7
Table: Headline Forecasts (Equatorial Guinea 2013-2019)
7
SWOT
9
Oil & Gas SWOT
9
Industry Forecast
11
Upstream Exploration
11
Table: Proven Oil and Gas Reserves (Equatorial Guinea 2013-2018)
11
Table: Proven Oil and Gas Reserves (Equatorial Guinea 2019-2024)
11
Upstream Projects
16
Table: Equatorial Guinea Major Upstream Projects
16
Upstream Production - Oil
18
Table: Oil Production (Equatorial Guinea 2013-2018)
18
Table: Oil Production (Equatorial Guinea 2019-2024)
18
Upstream Production - Gas
22
Table: Gas Production (Equatorial Guinea 2013-2018)
22
Table: Gas Production (Equatorial Guinea 2019-2024)
22
Table: Block R 2012 Drilling Results
25
Refining
26
Refined Fuels Consumption
27
Table: Refined Products Consumption* (Equatorial Guinea 2013-2018)
27
Table: Refined Products Consumption* (Equatorial Guinea 2019-2024)
27
Gas Consumption
29
Table: Gas Consumption (Equatorial Guinea 2013-2018)
29
Table: Gas Consumption (Equatorial Guinea 2019-2024)
29
Trade - Oil
31
Table: Crude Oil Net Exports (Equatorial Guinea 2013-2018)
31
Table: Crude Oil Net Exports (Equatorial Guinea 2019-2024)
31
Table: Refined Fuels Net Exports (Equatorial Guinea 2013-2018)
33
Table: Refined Fuels Net Exports (Equatorial Guinea 2019-2024)
33
Table: Total Net Oil Exports - Crude and Products (Equatorial Guinea 2013-2018)
35
Table: Total Net Oil Exports - Crude and Products (Equatorial Guinea 2019-2024)
35
Trade - Gas (Pipeline and LNG)
36
Table: Gas Net Exports (Equatorial Guinea 2013-2018)
36
Table: Gas Net Exports (Equatorial Guinea 2019-2024)
36
Table: Resource Requirements For LNG Options
40
Industry Risk Reward Ratings
43
Africa Oil & Gas Risk/Reward Index
43
Table: BMI's Africa Oil & Gas Risk/Reward Index
44
Above-Ground Risks Dampen Upstream Outlook
45
Table: BMI's Africa Upstream Risk/Reward Index
45
Underperformance Continues Among African Majors
46
Emergent Markets Stumble At Regulatory Hurdles
47
Established Producers On The Downturn
48
An Underwhelming Downstream
48
Table: BMI's Africa Downstream Risk/Reward Index
48
Equatorial Guinea Risk/Reward Index
51
Equatorial Guinea Upstream Index - Overview
51
Equatorial Guinea Downstream Index - Overview
51
Market Overview
52
Oil and Gas Infrastructure
52
Oil Refineries
52
Table: Downstream Projects
52
Service Stations
52
Oil Terminals
53
Oil Pipelines
53
Oil Storage
53
LNG Terminals
53
Table: Equatorial Guinea LNG Infrastructure
54
Equatorial Guinea Energy Market Overview
55
Overview/State Role
57
Licensing And Regulation
57
Government Policy
57
Licensing Rounds
58
International Energy Relations
58
Competitive Landscape
60
Competitive Landscape Summary
60
Table: Key Players - Equatorial Guinea Energy Sector
61
Company Profile
62
GEPetrol
62
ExxonMobil
66
Marathon Oil
69
Other Summaries
72
Regional Overview
77
Africa Oil & Gas Regional Overview
77
West Africa - Exploration Slowdown
77
Unconventionals: Window Of Opportunity Closing
79
East Africa: Resource Development Under Strain
81
High-Risk Continent
82
Downstream Blues
84
Global Industry Overview
87
Oil Price Outlook
87
Table: BMI And Bloomberg Consensus Forecasts* WTI And Brent, Front Month - USD/bbl
87
Table: 2015-2016 - Fundamental Pressure On Oil Prices
88
Appendix
95
Global - Crude Oil, Refined Fuels And Natural Gas Prices, 10-year Forecasts
95
Table: Energy Price Forecasts, 2013-2018
95
Table: Energy Price Forecasts, 2019-2024 ( Global 2019-2024)
96
Africa - Regional Appendix
97
Table: Oil Consumption - Historical Data & Forecasts, 2012-2019 ('000b/d)
97
Table: Oil Consumption - Long-Term Forecasts, 2016-2024 ('000b/d)
98
Table: Oil Production - Historical Data & Forecasts, 2012-2019 ('000b/d)
99
Table: Oil Production - Long-Term Forecasts, 2016-2024 ('000b/d)
99
Table: Refining Capacity - Historical Data & Forecasts, 2012-2019 ('000b/d)
100
Table: Refining Capacity - Long-Term Forecasts, 2016-2024 ('000b/d)
101
Table: Gas Consumption - Historical Data & Forecasts, 2012-2019 (bcm)
102
Table: Gas Consumption - Long-Term Forecasts, 2016-2024 (bcm)
102
Table: Gas Production - Historical Data & Forecasts, 2012-2019 (bcm)
103
Table: Gas Production - Long-Term Forecasts, 2016-2024 (bcm)
104
Table: LNG Net Exports - Historical Data & Forecasts, 2012-2019 (bcm)
105
Table: LNG Net Exports - Long-Term Forecasts, 2016-2024 (bcm)
105
Equatorial Guinea - Total Hydrocarbons, 10-year Forecasts
106
Table: Total Hydrocarbons Production, Consumption and Net Exports (Equatorial Guinea 2013-2018)
106
Table: Total Hydrocarbons Production, Consumption and Net Exports (Equatorial Guinea 2019-2024)
107
Equatorial Guinea - Refined Products Breakdown, 10-Year Forecasts
107
Table: Refined Petroleum Products, Production Breakdown (Equatorial Guinea 2013-2018)
107
Table: Refined Petroleum Products, Production Breakdown (Equatorial Guinea 2019-2024)
108
Table: Refined Petroleum Products, Consumption Breakdown (Equatorial Guinea 2013-2018)
109
Table: Refined Petroleum Products, Consumption Breakdown (Equatorial Guinea 2019-2024)
110
Table: Refined Petroleum Products, Net Exports Breakdown (Equatorial Guinea 2013-2018)
111
Table: Refined Petroleum Products, Net Exports Breakdown (Equatorial Guinea 2019-2024)
112
Glossary
113
Table: Glossary Of Terms
113
Methodology
115
Industry Forecast Methodology
115
Source
117
Risk/Reward Index Methodology
117
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
119
Table: Weighting
120

The Equatorial Guinea Oil & Gas Report has been researched at source and features BMI Research's independent forecasts for Equatorial Guinea 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 Equatorial Guinea Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Equatoguinean oil and gas industry.

Key Benefits

  • Benchmark BMI's independent oil and gas industry forecasts for Equatorial Guinea to test consensus views - a key input for successful budgeting and strategic business planning in the Equatoguinean oil and gas market.
  • Target business opportunities and risks in the Equatoguinean oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Equatorial Guinea.
  • 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