Equatorial Guinea Oil and Gas Report

 Published On: Sep, 2016 |    No of Pages: 83 |  Published By: BMI Oil and Gas | Format: PDF
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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 forecast period to 2025. 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 the project due to slowing global demand for LNG and the large wave of LNG projects coming online within the next few years.

Latest Updates and Key Forecasts
-Equatorial Guinea is forecast to see its oil and gas reserves decline significantly over our forecast period to 2025 due to maturing fields and lack of new significant discoveries. There are upside risks from a string of recent exploration activities offshore, as well as the new reduced-oil price environment attracting investors to lower-risk and lower-cost ventures such as Equatorial Guinea.
-The country has officially launched a new deepwater licensing round in June 2016 for 37 remaining deep and ultra-deepwater blocks. The bidding period concludes in November 2016.
-Despite benefiting from low oil prices, in the absence of significant improvements in the fiscal terms on offer and broader regulatory stability, the country will be unable to draw investment into its prospective but riskier deepwater acreage.

BMI Industry View ... 7
Table: Headline Forecasts (Equatorial Guinea 2014-2020) . . 7
SWOT ...... 9
Oil & Gas SWOT 9
Industry Forecast .. 11
Upstream Exploration 11
Latest Updates 11
Structural Trends ..... 11
Upstream Projects ..... 17
Table: Equatorial Guinea Major Upstream Projects . . . . 17
Upstream Production - Oil ... 20
Latest Updates 20
Structural Trends ..... 20
Table: Oil Production (Equatorial Guinea 2014-2019) . 24
Table: Oil Production (Equatorial Guinea 2020-2025) . 24
Upstream Production - Gas .. 25
Latest Updates 25
Structural Trends ..... 25
Table: Gas Production (Equatorial Guinea 2014-2019) 28
Table: Gas Production (Equatorial Guinea 2020-2025) 28
Refining . 29
Latest Updates 29
Structural Trends ..... 29
Refined Fuels Consumption .. 30
Latest Updates 30
Structural Trends ..... 30
Table: Refined Products Consumption* (Equatorial Guinea 2014-2019) . . 32
Table: Refined Products Consumption* (Equatorial Guinea 2020-2025) . . 32
Gas Consumption ...... 33
Latest Updates 33
Structural Trends ..... 33
Table: Gas Consumption (Equatorial Guinea 2014-2019) . . . 34
Table: Gas Consumption (Equatorial Guinea 2020-2025) . . . 34
Trade - Oil ...... 35
Crude Oil Trade Forecasts . 35
Latest Updates 35
Structural Trends ..... 35
Table: Crude Oil Net Exports (Equatorial Guinea 2014-2020) . . . 37
Table: Crude Oil Net Exports (Equatorial Guinea 2020-2025) . . . 37
Refined Products Trade Forecasts . 37
Table: Refined Fuels Net Exports (Equatorial Guinea 2014-2019) . . . . 38
Table: Refined Fuels Net Exports (Equatorial Guinea 2020-2025) . . . . 39
Trade - Gas (Pipeline And LNG) .... 40
Latest Updates 40
Structural Trends ..... 40
Table: Gas Net Exports (Equatorial Guinea 2014-2019) . . . . 45
Table: Gas Net Exports (Equatorial Guinea 2020-2025) . . . . 45
Industry Risk Reward Index ... 46
Africa - Oil & Gas Risk/Reward Index ...... 46
Table: BMI Africa Oil & Gas Risk/Reward Index . 46
Above-Ground Risks Dulling Below-Ground Potential . 49
Table: BMI Africa Upstream Risk/Reward Index . . . 49
Downstream Sector Holds Limited Opportunity . 52
Table: BMI Africa Downstream Risk/Reward Index . . . . 52
Equatorial Guinea Risk/Reward Index ...... 55
Upstream Index - Overview . 55
Downstream Index - Overview ...... 55
Market Overview ... 56
Equatorial Guinea Energy Market Overview ....... 56
Regulatory Structure . 56
Fiscal Regime . 57
Table: Equatorial Guinea - Upstream Tax Regime . 57
Licensing Regime ..... 58
Table: Equatorial Guinea - Contracts And Licensing Regime . . . . 58
Licensing Rounds ..... 58
Oil And Gas Infrastructure ... 60
Oil Refineries . 60
Table: Downstream Projects . . . . 60
Oil Storage Facilities 60
Oil Terminals And Ports ..... 61
LNG Terminals ........ 61
Table: Equatorial Guinea LNG Infrastructure 61
Oil And Gas Pipelines ........ 61
Competitive Landscape . 62
Table: Key Players - Equatorial Guinea Energy Sector . 63
Company Profile .... 64
EG LNG 64
Latest Updates 64
Table: Major Upstream Assets In Equatorial Guinea . . . 65
Regional Overview 66
Africa - Bullish Gas, Bearish Oil .... 66
Table: Africa Oil & Gas Production, Consumption, Refining Capacity And Trade . . 75
Glossary ........ 76
Table: Glossary Of Terms . 76
Methodology . 78
Industry Forecast Methodology .... 78
Source . 80
Risk/Reward Index Methodology ... 80
Table: Bmi's Oil & Gas Upstream Risk/Reward Index . . 82
Table: Weighting 83
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