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

  • Global Cystic Fibrosis Market Propelled by Technological Advancement
    With increasing prevalence of cystic fibrosis and its growing awareness among people, the global market for cystic fibrosis is expected to grow at a steady pace. Cystic fibrosis is a genetic condition where the lungs and digestive system becomes clogged with excess mucus. This condition is more common among Caucasian population than people of Asian [...]
  • Bright Prospects Ahead for the SONAR Systems and Technology Market
    With advancement of technology, the global SONAR systems and technology market is increasing at a rapid pace. SONAR which is an acronym for SOund Navigation And Ranging is a technique that uses sound propagation to navigate and communicate with objects on or under the surface of the water, such as other vessels. In 2014, the [...]
  • Increase in Surgical Procedures Propelling the Anesthesia Drugs Market
    With increase in surgical operations and invasive medical tests, the market for anesthesia drugs has been growing at a steady pace. Anesthesia drugs can be broadly categorized into two types – general anesthesia drugs and local anesthesia drugs. Anesthetic drugs help in inducing sleep and preventing discomfort and pain during surgical procedures. By 2018, the [...]
  • Water Treatment Chemicals Market to be driven by Increasing Demand from Developing Economies
    The global market for water treatment chemicals is growing at a steady pace with rapid urbanization and high demand from end-users. Water treatment chemicals are used for treating municipal water as well as agricultural wastewater. With higher demand for clean, drinking water with increasing population and increase in the number of industries, the global market [...]
  • Rise in Prevalence of Allergic Diseases Driving the Global Allergy Diagnostics Market
    With rise in the incidences of allergic diseases in the world, the global allergy diagnostics market has also witnessed steady growth. In recent years, there has been an increase in the number of people suffering from different allergies, particularly food allergies and drug allergies. The number of people suffering from asthma has also increased in [...]
  • To bring in Photography to the Real World Visual Supply Co Acquires Artifact Uprising
  • Visual Supply Co, VSCO has brought a Denver-based startup, Artifact Uprising, which is focused on bringing photographers’ work from the digital hubs on regular basis by modern creatives to the real world as prints and tangible books. Artifact Uprising is …

  • Graft-Versus-Host Disease (GVHD) Treatment Market worth $407 million by 2018
  • The graft-versus-host disease (GVHD) treatment market value will increase from $297 million in 2013 to $407 million by 2018, at a Compound Annual Growth Rate (CAGR) of 6.59%, according to research and consulting firm GlobalData. The company’s latest report* states …

  • Poland Pharmaceutical Industry Growing at 8.3% CAGR to 2020
  • Factors such as the growing elderly population, increasing availability of affordable medicines, and transparent regulatory guidelines will provide the necessary impetus for the growth of the Polish pharmaceutical market, but a decrease in mark-up prices and the country’s stringent drug …

  • Asia-Pacific, Led by China, Drive the Global Methanol Industry
  • China is driving the global methanol industry, with tremendous demand from both its energy and petrochemicals sectors. It accounts for 87.9% of Asia-Pacific’s (APAC) methanol capacity, and 51.9% of the global methanol capacity. Despite a large planned capacity increase in …

  • Diagnostic X-ray Imaging Market worth $4.0 billion by 2020
  • GlobalData estimates that the global diagnostic X-ray imaging market, worth $2.4 billion in 2012, will reach almost $4.0 billion by 2020, increasing at a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period. Many players are active in …

  • United Kingdom Power Report Q2 2015
    Published: 25-Feb-2015        Price: US $1295 Onwards        Pages: 96
    BMI View: An unpredictable shift to a multi-party political system following the 2015 general election will cloud UK energy policy and risks undermining investment in much-needed new power capacity. The successful completion of the UK's first capacity auction creates some upside to our forecasts over the long term, but fears of a capacity crunch will persist until this comes into effect in 2018/2019. Political interference in the UK's power market remains one of the biggest threats to the outloo......
  • Chile Power Report Q2 2015
    Published: 25-Feb-2015        Price: US $1295 Onwards        Pages: 68
    BMI View: Chile will remain one of the most attractive power markets in Latin America over the next 10 years due to its strong electricity consumption growth, driven by the country's expanding manufacturing sector and energy intensive mining industry. A stable business environment and liberalised electricity sector will continue to support investment in new power capacity, strengthening our upbeat forecast for growth in electricity generation. While investment in large-scale hydropower projects ......
  • Chile Renewables Report Q2 2015
    Published: 25-Feb-2015        Price: US $1295 Onwards        Pages: 37
    BMI View: Chile has emerged as a key global renewables hub, in line with our bullish forecasts for growth over the next 10 years. The amount of capacity in the pipeline - for solar and wind projects - is vast; supporting our view that renewables developers will continue to seek out the market for investment, due to the attractive rewards on offer. Chile's geographical characteristics mean that it has considerable potential for the development of renewable energy projects, including extensive coa......
  • Indonesia Oil and Gas Report Q2 2015
    Published: 25-Feb-2015        Price: US $1295 Onwards        Pages: 200
    BMI View: We have upgraded our consumption forecasts based on expectations that the election of reformminded Joko 'Jokowi' Widodo as president would have a positive impact on Indonesia's business environment - which has hitherto limited the country from maximising its below-ground potential - and its economy. A weaker oil price environment will also stimulate consumption despite subsidy cuts. Our forecasts could surprise to the upside if Jokowi is more successful than expected in battling entren......
  • Myanmar Oil and Gas Report Q2 2015
    Published: 25-Feb-2015        Price: US $1295 Onwards        Pages: 112
    BMI View: The outlook for Myanmar's upstream sector has been slightly weakened this quarter, as the lower oil prices will hurt exploration in the short-term. This will have a longer-term impact on the country's gas production potential. However, we still note Myanmar is benefiting from growing private sector involvement. In light of the country's highly prospective acreage, the increasing diversity of the competitive landscape and an improving business environment, its long-term exploration and ......
  • New Zealand Oil and Gas Report Q2 2015
    Published: 25-Feb-2015        Price: US $1295 Onwards        Pages: 105
    BMI View: Over the last quarter, oil and gas activity has mainly been confined to onshore. First production from the Maari growth project will drive an increase in oil production, though over the mid-term decline is inevitable. Long-term hydrocarbon potential remains strong with 18 under-explored sedimentary basins outside of the producing Taranaki basin, though exploration will progress slowly. We highlight the following major trends and developments in New Zealand's oil and gas sector: ? The 2......
  • Nordics Power Report Q2 2015
    Published: 25-Feb-2015        Price: US $1295 Onwards        Pages: 89
    BMI View: This quarter we have extended our forecast to 2024. This notwithstanding, we maintain our long-held view that, while growth expectations in the region are improving, economic woes in the eurozone remain a major risk factor for the consumption and generation outlook of the three Nordic countries, as more regional instability could undermine their economic activity. In terms of sector trends, we note that Denmark appears to be losing its energy self-sufficient status; lower gas and oil p......
  • Angola Oil and Gas Report Q2 2015
    Published: 25-Feb-2015        Price: US $1295 Onwards        Pages: 133
    BMI View: The outlook for Angola's oil sector remains broadly positive, with highly prospective offshore acreage and a number of major projects under development. However, sustained lower oil prices pose downside risk to production growth post-2020, as rapid natural decline rates and a slowdown in investment combine to undercut output levels. Gas production will remain limited throughout our 10-year forecast period due to low domestic consumption, unfavourable pricing dynamics and demand constra......
  • Pakistan Power Report Q2 2015
    Published: 25-Feb-2015        Price: US $1295 Onwards        Pages: 66
    BMI View: The adoption of net metering in Pakistan will not only drive the expansion of the country's domestic solar industry, but also help to alleviate the domestic power shortfall. Solar is set to play an increasingly important role in the country's power mix over the coming decade as it presents a viable alternative to conventional fuels. In a bid to improve energy security, the government is keen to incorporate renewable energy (primarily solar and wind) into the power mix and has taken ste......
  • 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 - [email protected] / +1 888 391 5441 )
    • Ad Hoc
    • Pay - as - you - go / Bucket Subscriptions
    • Fixed Cost for #of reports
    • Customize / Personalize as per your needs