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

  • Angola Oil and Gas Report Q3 2016
    Published: 18-May-2016        Price: US 1295 Onwards        Pages: 85
    BMI View: Angola's oil production is forecast to remain strong and unaffected by low oil prices, with output rising up until 2018. Post-2018 oil production will fall off due to a steep decline in rates on mature fields and no new projects forecast to counteract the declines. However, with plenty of pre-FID projects in the pipeline and a strong oil major presence, oil production risks lie to the upside. Gas production will remain limited throughout our forecast with weak d......
  • Chile Oil and Gas Report Q3 2016
    Published: 18-May-2016        Price: US 1295 Onwards        Pages: 87
    BMI View: With a lack of below-ground rewards, Chile will suffer from a continued deficit of hydrocarbon supplies and a high dependence on imported energy feedstock. Chile's most immediate opportunities lie in the expansion of their LNG import facilities as a means to meet growing domestic demand. On a longerterm basis, Chile is exploring the possibility of tapping its unconventional resources in the Magallanes region, though we caution its development will remain challen......
  • Equatorial Guinea Oil and Gas Report Q3 2016
    Published: 18-May-2016        Price: US 1295 Onwards        Pages: 83
    BMI View: Equatorial Guinea's oil output will see smaller decline rates over the coming years on the back of several smaller projects. However, maturing fields and a lack of new significant discoveries will continue to push the production volumes to the downside over our entire forecast period. Ophir's Fortuna FLNG project provides the most important upside to the country's gas production and net exports. While the company targets a FID by end-2016, we highlight risks to ......
  • Iran Oil and Gas Report Q3 2016
    Published: 18-May-2016        Price: US 1295 Onwards        Pages: 87
    BMI View: Gas production and consumption will see a substantial ramp-up in 2016 due to new phases of South Pars increasing gas availability. The lifting of sanctions in January 2016 will allow for oil production to increase by around 700,000b/d by year-end. New refining capacity will eradicate net fuels imports from 2017. We highlight the following trends and developments in Iran's oil and gas sector: ? The government has reportedly approved a version of the Iranian......
  • New Zealand Oil and Gas Report Q3 2016
    Published: 18-May-2016        Price: US 1295 Onwards        Pages: 64
    BMI View: Falling production and steady gains in consumption will maintain New Zealand's status as a net importer of both crude oil and refined fuels over our forecast period to 2025. Low crude prices will allow the country to diversify its crude options and ease its heavy dependence on the Middle East. Gas imports remain unlikely, as a small consumer market and limited potential for large-scale consumption growth deter international investment. Latest Updates And K......
  • Pakistan Oil and Gas Report Q3 2016
    Published: 18-May-2016        Price: US 1295 Onwards        Pages: 72
    BMI View: Greater availability of gas supplies via LNG imports and expanding pipeline gas trades with regional suppliers will allow Pakistan's gas imports to grow steadily over the coming years. The country will remain a substantial net importer of crude oil and refined fuels, as domestic production prove increasingly insufficient to offset rising demand. Latest Updates And Key Forecasts ? In April 2016, the government removed the moratorium on new gas connections i......
  • Sudan and South Sudan Oil and Gas Report Q3 2016
    Published: 18-May-2016        Price: US 1295 Onwards        Pages: 76
    BMI View: Progress on the formation of a unity government offers upside risk to oil production in South Sudan. However, we expect the pace of progress to remain slow, with no significant gains in output before 2017. The longer-term outlook for both Sudan and South Sudan is heavily bearish, due to a thin projects pipeline, lack of exploration and poor prospects for investment. The downstream sector is also weak, and we see limited room for growth given the high capital req......
  • Thailand Oil and Gas Report Q3 2016
    Published: 18-May-2016        Price: US 1295 Onwards        Pages: 77
    BMI View: Thailand's planned LNG import terminal at Rayong, expected to commence operations in 2023, will enable the government to import more LNG to manage falling domestic gas production and limit risks to the security of gas supply from Myanmar. Strong consumer demand for gasoline and construction demand for diesel, combined with low oil prices, will provide the impetus for Thailand's refiners to maximise production over the next two years and raise the country's refin......
  • Global Carbon Dioxide Enhanced Oil Recovery (EOR) Consumption 2016 Market Research Report
    Published: 18-May-2016        Price: US 4000 Onwards        Pages: 171
    The Global Carbon Dioxide Enhanced Oil Recovery (EOR) Consumption 2016 Market Research Report is a professional and in-depth study on the current state of the Carbon Dioxide Enhanced Oil Recovery (EOR) market. First, the report provides a basic overview of the Carbon Dioxide Enhanced Oil Recovery (EOR) industry including definitions, classifications, applications and industry chain structure. And development policies and plans are discussed as well as manufacturing processes and c......
  • 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