Ghana Oil and Gas Report Q1 2013

Publisher Name :
Date: 16-Jan-2013
No. of pages: 77

BMI View: Despite output problems, the outlook for Ghana's nascent status as an oil producer is bright,
with further development at the Jubilee field and anticipated first oil from the T.E.N. project underlying
our forecast for output to grow at an average rate of 60% over the course of our forecast period to 2021.
The development of infrastructure to commercialise associated gas for domestic power generation will
see both production and consumption of gas grown in Ghana. Continued upstream success with both gas
and oil discoveries presents upside risk to our forecasts, however we highlight project delays and
technical challenges as developments that could cause as to alter our forecast to the downside.
The main trends and developments we highlight for Ghana's oil and gas sector are:
?? After troubled start-up, output from the Tullow Oil-operated Jubilee field should reach
previously targeted 120,000b/d figure by 2013, although for 2012 we expect production to
average 77,000b/d.
?? Ghana's reserves are likely to continue to grow at a rapid rate as the appraisal of the Greater
Tweneboa, Southeastern Jubilee and West Cape Three Points prospects continues, The Oil &
Gas Journal (OGJ) annual reserves and production survey attributes 660mn barrels (bbl) of
proven oil reserves to the country. BMI estimates that resource base will grow to 730mn bbl by
2016
?? Although we forecast rapid gains in oil consumption as economic growth drives demand, we
expect demand in 2012 to be particularly bullish on the back of vandalism to the West Africa
Gas Pipeline (WAGP) which has been offline since August 28 2012. The supply disruption has
required Ghana to import some 50,000b/d as feedstock for power generation, causing us to raise
our forecast for oil consumption. WAGP operators have expressed confidence that pipeline will
resume operations before 2013.
?? Limited refinery capacity will required continued increased in refined production in the near
term; however, we continue to expect capacity to rise to as much as 245,000b/d over the long
term an new facilities come online toward 2018.
?? We expect net oil exports to grow from approximately at an average rate of nearly 3% from 2012
to reach 113,000b/d by 2021, generating significant revenues for the local economy.
?? Upstream exploration, with strong successful results reported by both Tullow and Eni in drilling
campaigns, suggest upside potential for gas reserves and production, which we forecast will rise
from 1.0bcm in 2013 to 3.8bcm by 2021,
?? Ghana's ability to process gas will grow with a US$3bn loan from the China Development Bank
supporting new midstream gas infrastructure capacity and facilitating a gradual increase in gas
production over the coming years as domestic demand from power generation gathers pace.
?? Although domestically produced gas is currently reserved for the local market, interest on the
part of international oil companies (IOCs) remains in the development of a potential LNG export
project.
We forecast an OPEC basket oil price for 2012 of US$107.05/bbl, which we see falling to US$99.10/bbl
in 2013. Global GDP in 2012 is forecast at 2.6%, down from an estimated 3.0% in 2011, reflecting
slowing growth in China, a faltering recovery in the US and a worsening eurozone debt crisis.

Ghana Oil and Gas Report Q1 2013

BMI Industry View 5
SWOT Analysis ..... 7
Ghana Oil and Gas SWOT ............. 7
Industry Forecast Scenario ............. 8
Oil And Gas Reserves ........... 8
Table: Ghana Proven Oil and Gas Reserves and Total Petroleum Data, 2010-2016 ........ 8
Table: Ghana Proven Oil and Gas Reserves and Total Petroleum Data, 2015-2021 ........ 9
Oil Supply And Demand ...... 12
Table: Ghana Oil Production, Consumption and Net Exports, 2010-2016 ........ 12
Table: Ghana Oil Production, Consumption and Net Exports, 2015-2021 ........ 13
Gas Supply And Demand .... 15
Table: Ghana Gas Production, Consumption and Net Exports, 2010-2016 ....... 15
Table: Ghana Gas Production, Consumption and Net Exports, 2015-2021 ....... 16
LNG ........ 19
Refining And Oil Products Trade ...... 20
Table: Ghana Refining - Production and Consumption, 2010-2016 .... 20
Table: Ghana Refining - Production and Consumption, 2015-2021 .... 20
Revenues/Import Costs........ 21
Country Risk/Reward Ratings ....... 22
Ghana Upstream Rating - Overview ......... 22
Ghana Downstream Rating - Overview ..... 22
Regional Risk/Reward Ratings ..... 23
Table: Africa's Oil & Gas Risk/Reward Ratings ...... 24
Table: Africa's Oil & Gas Upstream Risk/Reward Ratings .... 25
Table: Proposed And Planned Refineries In Africa . 29
Table: Africa's Downstream Risk/Reward Scores .... 30
Ghana Energy Market Overview ... 31
Overview/State Role ............ 31
Licensing and Regulation ............ 32
Licensing Rounds ........... 33
Table: Ghana - Upstream Projects Database ........ 33
Table: Key Upstream Players ...... 33
Table: Key Downstream Player ... 34
Oil And Gas Infrastructure ............ 35
Oil Refineries ........ 35
Table: Downstream Projects ....... 35
Service Stations ..... 35
Oil Terminals/Ports ............ 36
Gas Pipelines ........ 36
Competitive Landscape ... 38
Executive Summary ............. 38
Table: Key Players - Ghana Energy Sector ............. 39
Table: Key Upstream Players ...... 40
Table: Key Downstream Player ... 40
Company Monitor ............. 41
Tullow Oil ........ 41
Kosmos Energy 45
Lukoil - Summary .......... 46
Eni - Summary . 47
Hess - Summary ............ 48
Statoil - Summary .......... 48
Anadarko - Summary ..... 49
Tap Oil - Summary ........ 49
PetroSA - Summary ....... 49
Regional Energy Market Outlook .. 50
Global Energy Market Outlook ...... 55
Table: Global Oil Demand Forecasts - A Comparison ......... 57
Africa - Regional Appendix .......... 61
Table: Oil Consumption - Historical Data & Forecasts, 2009-2016 ('000b/d) . 61
Table: Oil Consumption - Long-Term Forecasts, 2014-2021 ('000b/d) ............ 61
Table: Oil Production - Historical Data & Forecasts, 2009-2016 ('000b/d) .... 62
Table: Oil Production - Long-Term Forecasts, 2014-2021 ('000b/d) . 63
Table: Refining Capacity - Historical Data & Forecasts, 2009-2016 ('000b/d) ............. 63
Table: Refining Capacity - Long-Term Forecasts, 2014-2021 ('000b/d) .......... 64
Table: Gas Consumption - Historical Data & Forecasts, 2009-2016 (bcm) ..... 64
Table: Gas Consumption - Long-Term Forecasts, 2014-2021 (bcm) .. 65
Table: Gas Production - Historical Data & Forecasts, 2009-2016 (bcm) ........ 66
Table: Gas Production - Long-Term Forecasts, 2014-2021 (bcm)...... 66
LNG Net Exports - Historical Data & Forecasts, 2009-2016 (bcm) ... 67
LNG Net Exports - Long-Term Forecasts, 2014-2021 (bcm) 67
Methodology And Risks To Forecasts ....... 68
Glossary Of Terms ........... 69
Table: Glossary Of Terms ............ 69
Oil And Gas Risk/Reward Ratings Methodology .... 71
Ratings Overview .. 71
Table: BMI's Oil & Gas Business Environment Ratings - Structure ... 72
Indicators 72
Table: BMI's Oil & Gas Upstream Ratings - Methodology .. 72
Table: BMI's Oil & Gas Business Environment Downstream Ratings - Methodology .... 73
BMI Methodology ............. 75
How We Generate Our Industry Forecasts ..... 75
Energy Industry .... 75
Cross checks ......... 76
Sources ... 76Table: Ghana Proven Oil and Gas Reserves and Total Petroleum Data, 2010-2016
Table: Ghana Proven Oil and Gas Reserves and Total Petroleum Data, 2015-2021
Table: Ghana Oil Production, Consumption and Net Exports, 2010-2016
Table: Ghana Oil Production, Consumption and Net Exports, 2015-2021
Table: Ghana Gas Production, Consumption and Net Exports, 2010-2016
Table: Ghana Gas Production, Consumption and Net Exports, 2015-2021
Table: Ghana Refining - Production and Consumption, 2010-2016
Table: Ghana Refining - Production and Consumption, 2015-2021
Table: Africa's Oil & Gas Risk/Reward Ratings
Table: Africa's Oil & Gas Upstream Risk/Reward Ratings
Table: Proposed And Planned Refineries In Africa
Table: Africa's Downstream Risk/Reward Scores
Table: Ghana - Upstream Projects Database
Table: Key Upstream Players
Table: Key Downstream Player
Table: Downstream Projects
Table: Key Players - Ghana Energy Sector
Table: Key Upstream Players
Table: Key Downstream Player
Table: Global Oil Demand Forecasts - A Comparison
Table: Oil Consumption - Historical Data & Forecasts, 2009-2016 ('000b/d)
Table: Oil Consumption - Long-Term Forecasts, 2014-2021 ('000b/d)
Table: Oil Production - Historical Data & Forecasts, 2009-2016 ('000b/d)
Table: Oil Production - Long-Term Forecasts, 2014-2021 ('000b/d)
Table: Refining Capacity - Historical Data & Forecasts, 2009-2016 ('000b/d)
Table: Refining Capacity - Long-Term Forecasts, 2014-2021 ('000b/d)
Table: Gas Consumption - Historical Data & Forecasts, 2009-2016 (bcm)
Table: Gas Consumption - Long-Term Forecasts, 2014-2021 (bcm)
Table: Gas Production - Historical Data & Forecasts, 2009-2016 (bcm)
Table: Gas Production - Long-Term Forecasts, 2014-2021 (bcm)
LNG Net Exports - Historical Data & Forecasts, 2009-2016 (bcm)
LNG Net Exports - Long-Term Forecasts, 2014-2021 (bcm)
Table: Glossary Of Terms
Table: BMI's Oil & Gas Business Environment Ratings - Structure
Table: BMI's Oil & Gas Upstream Ratings - Methodology
Table: BMI's Oil & Gas Business Environment Downstream Ratings - Methodology

  • Siemens Adds To the Growth of Wind Power Generation Market
    Siemens has been presenting ground-breaking strategies and pioneering solutions for energy generation for an intelligent power supply globally. With an expansive portfolio and wide-ranging proficiency in wind power generation, Siemens is likely to aid in increasing the share of wind power in the US energy mix. With New Mexico’s vicinity to significant wind energy areas, [...]
  • Global Public Safety LTE Ecosystem Overview
    In view of its flourishing ecosystem, spectrum flexibility and performance metrics, LTE has emerged as the leading candidate for public safety mobile broadband networks. Public safety organizations and establishments have already begun planning to advance their networks to LTE-based public safety solutions. LTE provisions a varied range of services, from high bandwidth data services to [...]
  • RnR Market Research: Biochips Market Insights
    Growing R&D investment and subcontracting of pharmaceutical companies would lead to growth in biochips market in Asia along with an increase in the application of biochips products is estimated to improve opportunity for the global biochip market. Conversely, the high cost involved in manufacturing of biochips can be seen as a challenge for the same. [...]
  • Current State of Blood Banking Market, Products, Technologies and Services
    The global blood banking and blood products market is expected to reach US$41.9 billion by 2020 with USA continuing to be the largest market worldwide. Asia-Pacific follows a close second with a projected CAGR of 9.1% during this period owing to the refining healthcare infrastructure and increase in the per capita healthcare expenditure. The major [...]
  • Surgical Robots Market 2016 Updates on Companies, Products and More
    Surgical robots are medical devices that assist surgeons in performing many types of complex procedures with more accuracy, flexibility and control than is possible with conventional techniques. The aim of surgical robots market players is to provide improved diagnostic skills, a less invasive and more comfortable experience for the patient, and the ability to do [...]
  • Gabon Oil and Gas Report Q3 2016
    Published: 27-Jul-2016        Price: US 1295 Onwards        Pages: 81
    BMI View: Gabon's oil sector remains vulnerable to the decline in global oil prices, with reports of delays to a key upstream project on the back of uncertain economic conditions. Continued upstream investment is indicative of the market's untapped potential, but above-ground worries ranging from industrial action to unattractive fiscal terms will remain obstacles to the sustained investment necessary to reverse declining reserves and output. The main trends and dev......
  • Kuwait Oil and Gas Report Q3 2016
    Published: 27-Jul-2016        Price: US 1295 Onwards        Pages: 82
    BMI View: Kuwait has maintained ambitious production targets, but more significant gains in the production of both oil and gas will require greater involvement of international oil companies. There has been progress in the award of some key contracts for both upstream and downstream projects but political opposition to reducing subsidies highlights the remaining impediments to needed reforms. There is uncertainty over OPEC policy, which has implications for Kuwaiti export......
  • Trinidad and Tobago Oil and Gas Report Q3 2016
    Published: 27-Jul-2016        Price: US 1295 Onwards        Pages: 79
    BMI View: An agreement with Venezuela over the Dragon development could help to ease persistent shortages of naturals gas that have delayed projects and affected gas exports in Trinidad & Tobago. However the project remains extremely uncertain and is not yet included in our forecasts given continued political upheaval in Venezuela. With supply challenges expected to persist at least into 2017, the upstream and downstream sector will face continued headwinds - evidenced by......
  • United Kingdom Oil and Gas Report Q4 2016
    Published: 27-Jul-2016        Price: US 1295 Onwards        Pages: 141
    BMI View: The UK's vote to leave the EU has not affected our oil and gas production forecasts as the strong project pipeline will ensure that the UK experiences a provisional uptick in oil and gas output. The long-term trend of decline will also remain in place, as high operating costs, capex reductions and a lack of significant new discoveries limit investment into the mature basin. A depreciated sterling offers a measure of upside risk as North Sea investment becomes ch......
  • Germany Oil and Gas Report Q3 2016
    Published: 27-Jul-2016        Price: US 1295 Onwards        Pages: 74
    BMI View: Domestic oil and gas production will continue to decline as weak oil prices hold back investment. Softer margins in H216 will see the refining sector struggle to improve on a strong 2015. Fuels consumption in Europe's largest market remains flat and will trend down. The main trends and developments in Germany's oil and gas sector are: ? Refined products production remained flat y-o-y over Q116. Gasoline output increased on the back of stronger margins.......
  • United States Oil and Gas Report Q3 2016
    Published: 27-Jul-2016        Price: US 1295 Onwards        Pages: 172
    BMI View: The US will lead gains in non-OPEC crude oil production over the next decade despite the fall in oil prices. High growth rates seen in recent years will moderate through our 10-year forecast period, reflecting abrupt depletion rates in shale oil fields, a glut in the domestic market for light sweet crude and lower oil prices dampening a portion of production. Fuels consumption growth will temper over the course of the next decade as energy efficiency gains take ......
  • Yemen Oil and Gas Report Q3 2016
    Published: 27-Jul-2016        Price: US 1295 Onwards        Pages: 68
    BMI View: Yemen's oil and gas industry remains at a standstill as virtually all oil and gas companies and facilities have suspended their operations due to the ongoing civil war in the country. With no resolution of the conflict in sight, we expect above-ground risks to continue weighing on near-term production and challenge investment prospects over the longer term. Latest Updates and Key Forecasts Between 2016 and 2025 oil reserves are set to shrink by 13% and rea......
  • Bahrain Oil and Gas Report Q3 2016
    Published: 13-Jul-2016        Price: US 1295 Onwards        Pages: 76
    BMI View: Despite limited success in boosting oil and gas production from the Bahrain field, the key development for the country will be the refining capacity expansion at the kingdom's centrepiece Sitra refinery. However, delays to the expansion will result in a continuation of fuel export declines and a widening of the country's fiscal deficit until 2020. This marks a two-year delay to our previous forecast which saw increasing fuel exports from 2018. We also note downs......
  • Brunei Oil and Gas Report Q3 2016
    Published: 13-Jul-2016        Price: US 1295 Onwards        Pages: 61
    BMI View: The new refinery and petrochemical complex at Pulau Muara Besar will support the further diversification of Brunei's economy away from crude oil exports, creating new revenue streams from more specialised products. The country will remain a net LNG exporter. Latest Updates And Key Forecasts ? Brunei's hydrocarbon reserves are forecasted to remain on a downward trend over the next 10 years. However, ambitious government plans to revive Brunei's upstream sec......
  • SERVICES
    Value for Money
    We believe in "optimum utilization of available budget and resources". While servicing our clients' (your) market research requirements, we keep the same approach in focus to help you get the best value for your $$s.
    Ever Growing Inventory
    Ranging from the smallest feasible / required data (datasheets, data facts, SWOT analysis, company profiles, etc) to full research reports that help you make decisions, our inventory is updated almost on a daily basis with the latest industry reports from domain experts that track more than 5000 niche sectors.
    One Stop Solution
    Need a custom research report on medical devices market? Require all available business intelligence on 3D printing industry? Exploring F&B sector of a particular country/region? RnRMarketResearch.com is your one-stop-solution to all market intelligence needs. We not only offer custom research and consulting services, we also "bundle" reports to meet your needs and help you fetch the data analysis you require for your business.
    Dedicated Client Engagement
    Not limited to only "finding" relevant reports for you, our client engagement team dedicates its efforts to understand your "business need" and accordingly maps available research data to help you move forward. Call "your" client engagement executive any time of your day and get your questions answered in order to make the correct business decision.
    Saving Time and Efforts
    Simply share your research requirement details with us and let us do all the hard work to find required intelligence for you. When you add up our "one stop solution" and "dedicated client engagement" services mentioned above, you obviously know the time and effort saving you do by working with us.
    Payment Flexibility
    Working with Fortune 500 organizations, we understand the importance of being flexible for payments. Share your payment terms with us and we will surely match up to them to ensure you get access to required business intelligence data without having to wait for the payment to be done.
    Post-Purchase Research Support
    Have questions after reading a report / datasheet bought through us? Not sure about the methodology used for data available in the research? Talk to us / Share your questions with us and if required, we will connect you with the analyst(s)/author(s) of the report(s) and ensure you get satisfactory answers for the same. Need more data / analysis / report(s) on the topic of your research/project? The RnRMarketResearch.com team is here for you 24X7 to support you with your post-purchase requirements. Subscription Offers & Packages (Get in touch with us for more details - sales@rnrmarketresearch.com / +1 888 391 5441 )
    • Ad Hoc
    • Pay - as - you - go / Bucket Subscriptions
    • Fixed Cost for #of reports
    • Customize / Personalize as per your needs