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Deep Offshore Oil & Gas Exploration and Production (E&P) in West Africa - Market Analysis, Competitive Landscape and Forecasts to 2020

Abstract

Deep Offshore Oil & Gas Exploration and Production (E&P) in West Africa - Market Analysis, Competitive Landscape and Forecasts to 2020

Summary

"Deep Offshore Oil & Gas Exploration and Production (E&P) in West Africa - Market Analysis, Competitive Landscape and Forecasts to 2020", is the latest report from GlobalData, the industry analysis specialist, which analyzes the global Exploration and Production (E&P) industry. The report provides an overview of the deep offshore E&P in West Africa. The report also provides information on the major deep offshore oil and gas projects and key companies in Nigeria, Angola, Equatorial Guinea, the Republic of Congo and Ghana. The report is compiled by using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData's team of industry experts.

Scope

This report provides detailed analysis of E&P in deep offshore West Africa, including the key companies and the key trends and issues in the industry up to 2020. The report primarily focuses on -

  • Drivers and challenges for E&P in deep offshore West Africa.
  • The contribution from the countries in the region to West Africa's offshore oil and gas production.
  • Key companies in the E&P industry of deep offshore West Africa.
  • The E&P fiscal environment in Nigeria, Angola, Equatorial Guinea, the Republic of Congo and Ghana.
  • The competitive landscape of the companies engaged in E&P activities in Nigeria, Angola, Equatorial Guinea, the Republic of Congo and Ghana.

Reasons to buy

This report will enhance your decision-making capabilities. It will allow you to -

  • Gain insight on the deep offshore West African market.
  • Understand key drivers and challenges of the deep offshore West African market.
  • Learn about deep offshore oil and gas E&P in Nigeria, Angola, Equatorial Guinea, Republic of the Congo, and Ghana.
  • To be informed about the operations of key companies engaged in deep offshore E&P of oil and gas in the West Africa region.

TOC

1 Table of Contents

1 Table of Contents 4

  • 1.1 List of Tables 6
  • 1.2 List of Figures 7

2 Introduction 9

  • 2.1 Overview 9
  • 2.2 GlobalData Report Guidance 9

3 Deep Offshore Oil and Gas Exploration and Production in West Africa - An Overview 10

  • 3.1 Angola and Ghana Lead Deep Offshore Oil and Gas Exploration in West Africa 11
    • 3.1.1 Major Deep Offshore Oil and Gas Discoveries in West Africa (2011 - June 2012) 12
  • 3.2 Offshore Oil and Gas Production in West Africa Accounted for 74.3% of the Region's Total Production in 2011 14
    • 3.2.1 Offshore Oil and Gas Production in West Africa is Expected to Increase at an AAGR of 3.8% during 2011-2020 16
  • 3.3 Deep Offshore Oil and Gas Sector in West Africa - Key Drivers and Challenges 17
    • 3.3.1 Deep Offshore West Africa has Significant Potential for Pre-salt Discoveries 17
    • 3.3.2 Gulf of Guinea will Continue to be a Key Region for Exploration and Production of Oil and Gas in Deep Offshore West Africa 19
    • 3.3.3 Floating Production Storage and Offloading Vessels (FPSOs) will continue to Play a Key Role in Unlocking Potential of Oil and Gas Fields in Deep Offshore West Africa 20
    • 3.3.4 Increasing Piracy Attacks are Affecting Oil and Gas Exploration and Production Operations in Offshore West Africa 21
  • 3.4 Equatorial Guinea Offers Attractive Fiscal Terms for Oil and Gas Exploration and Production in West Africa 21
  • 3.5 Major Deep Offshore Oil and Gas Companies in West Africa - A Competitive Landscape 23
    • 3.5.1 Sonangol has Equity Stakes in the Largest Number of Active Offshore Exploration Blocks in West Africa 23
    • 3.5.2 ExxonMobil Recorded the Highest Oil and Natural Gas Production in Offshore West Africa in 2011 24

4 Deep Offshore Oil and Gas Exploration and Production in West Africa - Nigeria 25

  • 4.1 Exploration and Production Fiscal Environment in Nigeria 25
    • 4.1.1 New Draft of Nigeria's Petroleum Investment Bill (PIB) Awaits President's Approval 26
  • 4.2 Four Offshore Discoveries were Made in Nigeria in the Past Three Years 27
    • 4.2.1 Agge-3B Discovery 27
    • 4.2.2 Kuyere-1 Discovery 28
  • 4.3 Nigeria Recorded Offshore Crude Oil and Natural Gas Production of 699.4 MMboe in 2011 28
    • 4.3.1 Offshore Oil and Gas Production in Nigeria is Expected to Increase at an Average Annual Growth Rate of 1.9% during 2011-2020 29
  • 4.4 Details of Planned Deep Offshore Oil and Gas Production Fields in Nigeria 30
    • 4.4.1 Egina Production Field 30
    • 4.4.2 Bonga Southwest/Aparo Production Field 31
    • 4.4.3 Erha North Phase II Production Field 31
  • 4.5 Major Offshore Exploration and Production Companies in Nigeria 32
    • 4.5.1 Total has Equity Stakes in the Highest Number of Offshore Exploration Blocks of Nigeria 32
    • 4.5.2 Nigeria National Petroleum Corporation is the Leading Producer of Oil and Gas in Nigeria 33

5 Deep Offshore Oil and Gas Exploration and Production in West Africa - Angola 35

  • 5.1 Exploration and Production Fiscal Environment in Angola 35
  • 5.2 Angola Witnessed the Largest Number of Oil and Gas Discoveries in Offshore West Africa During the 2009 - June 2012 Period 36
    • 5.2.1 Details of Deep Offshore Oil and Gas Discoveries in Angola 37
  • 5.3 Angola Produced 499.0 MMboe of Oil and Natural Gas from its Offshore Fields in 2011 39
    • 5.3.1 Offshore Production Contributes about 84% to Angola's Total Oil and Gas Production in 2011 40
    • 5.3.2 Offshore Oil and Gas Production in Angola is Expected to Increase at an Average Annual Growth Rate of 5.8% during 2011-2020 41
  • 5.4 Details of Planned Deep Offshore Oil Production Assets in Angola 42
    • 5.4.1 Negage Production Field 42
    • 5.4.2 Kizomba D Production Field 42
    • 5.4.3 Cravo, Lirio, Orquidea and Violeta Production Fields 43
  • 5.5 Major Offshore Exploration and Production Companies in Angola 44
    • 5.5.1 Sonangol has Equity Stake in the Largest Number of Offshore Blocks in Angola 44
    • 5.5.2 ExxonMobil Corporation Recorded the Highest Production of Oil and Natural Gas in Angola in 2011 45

6 Deep Offshore Oil and Gas Exploration and Production in West Africa - Equatorial Guinea 46

  • 6.1 Exploration and Production Fiscal Environment in Equatorial Guinea 46
  • 6.2 Equatorial Guinea Witnessed Limited Number of Oil and Gas Discoveries in Recent Years 47
  • 6.3 Equatorial Guinea is the Third Largest Producer of Crude Oil in West Africa 48
    • 6.3.1 Offshore Oil and Gas Production in Equatorial Guinea is Expected to Increase at an Average Annual Growth Rate of 3.6% 49
  • 6.4 Alen Production Field Offshore Equatorial Guinea is Expected to Start Operations from December 2013 50
  • 6.5 Major Offshore Exploration and Production Companies in Equatorial Guinea 51
    • 6.5.1 GEPetrol is the Largest Offshore Exploration Company in Equatorial Guinea 51
    • 6.5.2 Marathon Oil Corporation Recorded the Highest Production of Oil and Gas in Offshore Equatorial Guinea in 2011 52

7 Deep Offshore Oil and Gas Exploration and Production in West Africa - Republic of the Congo 53

  • 7.1 Exploration and Production Fiscal Environment in Republic of the Congo 53
  • 7.2 The Republic of the Congo Witnessed Five Oil and Gas Discoveries during 2009 - June 2012 54
    • 7.2.1 Details of Deep Offshore Oil and Gas Discoveries in the Republic of the Congo 54
  • 7.3 The Republic of the Congo is a Key Producer of Oil and Gas in Offshore West Africa 56
    • 7.3.1 Offshore Oil and Gas Production in the Republic of the Congo is Expected to Increase at an Average Annual Growth Rate of 0.1% during 2011-2020 57
  • 7.4 Details of Planned Deep Offshore Oil Production Fields in the Republic of the Congo 58
    • 7.4.1 Lianzi Oil Field 58
    • 7.4.2 Moho Nord Oil Field 58
  • 7.5 Major Offshore Exploration and Production Companies in Republic of the Congo 58
    • 7.5.1 Societe Nationale des Petroles du Congo (SNPC) has the Most Equity Stakes in Active Offshore Blocks in the Republic of the Congo 58
    • 7.5.2 Total Recorded Largest Production of Oil and Gas in the Offshore Republic of the Congo in 2011 60

8 Deep Offshore Oil and Gas Exploration and Production in West Africa - Ghana 62

  • 8.1 Exploration and Production Fiscal Environment in Ghana 62
  • 8.2 Ghana Witnessed Second Highest Number of Oil and Gas Discoveries in Offshore West Africa during 2009 - June 2012 63
    • 8.2.1 Details of Deep Offshore Oil and Gas Discoveries in Ghana 64
  • 8.3 Ghana Started Production of Oil and Gas in 2010 65
    • 8.3.1 Offshore Oil and Gas Production in Ghana is Expected to Increase at an Average Annual Growth Rate of 15.8% during 2011-2020 66
  • 8.4 Details of Planned Deep Offshore Oil Production Fields in Ghana 67
    • 8.4.1 Tweneboa Production Field 67
    • 8.4.2 Mahogany East Project 68
    • 8.4.3 Odum Production Field 69
  • 8.5 Major Offshore Exploration and Production Companies in Ghana 70
    • 8.5.1 Ghana National Petroleum Corporation (GNPC) has the Highest Number of Stakes in Active Offshore Blocks in Ghana 70
    • 8.5.2 Kosmos Energy has made Several Significant Discoveries in Deepwater Ghana 71
    • 8.5.3 Tullow Oil Plc Recorded the Highest Production of Oil and Gas in Offshore Ghana in 2011 72

9 Appendix 73

  • 9.1 Market Definition 73
  • 9.2 Abbreviations 73
  • 9.3 Sources 74
  • 9.4 Methodology 75
    • 9.4.1 Coverage 75
    • 9.4.2 Secondary Research 75
    • 9.4.3 Primary Research 76
    • 9.4.4 Expert Panel Validation 76
  • 9.5 Contact Us 76
  • 9.6 Disclaimer 76

List of Tables

1.1 List of Tables

  • Table 1: Deep Offshore Exploration Industry, West Africa, Major Offshore Oil and Gas Discoveries, 2012 (Up to June) 12
  • Table 2: Deep Offshore Exploration Industry, West Africa, Major Deep Offshore Oil and Gas Discoveries, 2011 13
  • Table 3: Oil and Gas Production Industry, West Africa, Offshore Oil and Gas Production, Onshore Production and Total Production*, MMboe, 2001-2011 15
  • Table 4: Oil and Gas Exploration and Production Industry, Details of Pre-salt Contracts Awarded to Select Companies, 2011 18
  • Table 5: Oil and Gas Industry, West Africa, Comparison of Key Fiscal Terms of Angola, Equatorial Guinea and Nigeria, 2011 22
  • Table 6: Oil and Gas Exploration and Production Industry, Nigeria, Details of Fiscal Terms for Production Sharing Contract Model and Joint Operating Agreement Model, 2012 26
  • Table 7: Oil and Gas Exploration and Production Industry, Nigeria, Details of Top 10 Offshore Exploration Assets*, Sq. km, 2012 27
  • Table 8: Oil and Gas Exploration and Production Industry, Nigeria, Major Companies in Terms of Equity Stakes in Offshore Exploration Blocks, 2001-2011 32
  • Table 9: Oil and Gas Exploration and Production Industry, Nigeria, OPL 221, JDZ Block 1, OPL 215 and OPL 223 Offshore Exploration Blocks, 2012 33
  • Table 10: Oil and Gas Exploration and Production Industry, Angola, Key Fiscal Terms, 2012 35
  • Table 11: Oil and Gas Exploration and Production Industry, Angola, Details of Top 10 Offshore Exploration Assets*, Sq. km, 2012 36
  • Table 12: Oil and Gas Exploration and Production Industry, Angola, Top 10 Companies based on Equity Stakes in Active Offshore Exploration Blocks, 2001-2011 44
  • Table 13: Oil and Gas Exploration and Production Industry, Angola, Details of Offshore Exploration Blocks 3/05-A and 2/05, 2012 44
  • Table 14: Oil and Gas Exploration and Production Industry, Equatorial Guinea, Details of Fiscal Terms, 2012 46
  • Table 15: Oil and Gas Exploration Industry, Equatorial Guinea, Details of Top 10 Offshore Exploration Assets*, Sq. km., 2012 47
  • Table 16: Oil and Gas Exploration and Production Industry, Equatorial Guinea, Top 10 Companies based on Equity Stakes in Number of Active Offshore Exploration Blocks, 2001-2011 51
  • Table 17: Oil and Gas Exploration and Production Industry, Equatorial Guinea, Details of Block N, Block N (GE Petrol) and Block P in Offshore Exploration Blocks, 2012 52
  • Table 18: Oil and Gas Exploration and Production Industry, Republic of the Congo, Details of Fiscal Terms, 2012 53
  • Table 19: Oil and Gas Exploration and Production Industry, Republic of the Congo, Details of Offshore Exploration Blocks, 2011 54
  • Table 20: Oil and Gas Exploration and Production Industry, Republic of the Congo, Top 10 Companies in terms of Equity Stakes in Active Offshore Exploration Blocks, 2001-2011 59
  • Table 21: Oil and Gas Exploration and Production Industry, Republic of the Congo, Active Offshore Blocks with SNPC's Equity Stakes, 2011 59
  • Table 22: Oil and Gas Exploration and Production Industry, Ghana, Details of Fiscal Terms, 2012 62
  • Table 23: Oil and Gas Exploration and Production Industry, Ghana, Details of Offshore Exploration Assets*, 2012 63
  • Table 24: Oil and Gas Exploration and Production Industry, Ghana, Major Companies in terms of Equity Stakes in Number of Active Exploration Blocks, 2001-2011 70
  • Table 25: Oil and Gas Exploration and Production Industry, Ghana, Details of Active Offshore Blocks in which GNPC has Equity Stakes, 2012 71
  • Table 26: Oil and Gas Exploration and Production Industry, Deepwater Ghana, Details of Discoveries in which Kosmos Energy has Equity Stakes, 2012 71

List of Figures

1.2 List of Figures

  • Figure 1: Deep Offshore Production Industry, World, "The Golden Triangle" for Deep Offshore Production, 2011 10
  • Figure 2: Deep Offshore Exploration Industry, West Africa, Coastlines of Important Countries Involved in Oil and Gas Exploration, 2010 11
  • Figure 3: Oil and Gas Exploration and Production Industry, West Africa, Offshore Oil and Gas Discoveries By Country, 2009 - June 2012 12
  • Figure 4: Oil and Gas Exploration and Production Industry, West Africa, Share of Offshore Production in Total Oil and Gas Production*, %, 2001-2011 14
  • Figure 5: Oil and Gas Exploration and Production Industry, West Africa, Offshore Oil and Gas Production Share (%) Compared to Growth (%) of Top Five Countries, 2001-2011 16
  • Figure 6: Oil and Gas Exploration and Production Industry, West Africa*, Forecast Production of Oil and Natural Gas from Offshore Fields, MMboe, 2011, 2015 and 2020 17
  • Figure 7: Oil and Gas Exploration Industry, West Africa and Brazil, Similarities Between Pre-salt Geologies of Deep Offshore West Africa and Deep Offshore Brazil, 2012 18
  • Figure 8: Oil and Gas Exploration and Production Industry, West Africa, Location of Gulf of Guinea, 2012 19
  • Figure 9: FPSO Industry, West Africa, FPSO-based Crude Oil and Natural Gas Production Capacity of the Top Three Countries, MMbbl and bcf, 2011 20
  • Figure 10: Oil and Gas Exploration and Production Industry, West Africa, Top 10 Equity Stake Holders in Offshore Active Exploration Blocks of West Africa, 2011 23
  • Figure 11: Oil and Gas Production Industry, West Africa, Top 10 Offshore Oil and Natural Gas Producers in West Africa*, MMboe, 2011 24
  • Figure 12: Oil and Gas Exploration and Production Industry, West Africa, Location of Agge-3B.T1 Well, 2011 28
  • Figure 13: Oil and Gas Exploration and Production Industry, Nigeria, Share of Offshore Production in Total Oil and Gas Production, %, 2001-2011 29
  • Figure 14: Oil and Gas Production Industry, Nigeria, Forecast Production of Oil and Natural Gas from Offshore Fields, MMboe, 2011, 2015 and 2020 30
  • Figure 15: Oil and Gas Exploration and Production Industry, West Africa, Location of Egina Field, 2011 31
  • Figure 16: Oil and Gas Production Industry, West Africa, Location of Erha North Phase II Field, 2011 32
  • Figure 17: Oil and Gas Exploration and Production Industry, Angola, Location of Canna-1 Well, 2011 37
  • Figure 18: Oil and Gas Exploration Industry, Angola, Locations of Begonia-1 and Gardenia-1 Wells, 2011 38
  • Figure 19: Natural Gas Industry, Angola, Location of Angola LNG Project, 2011 39
  • Figure 20: Oil and Gas Production Industry, Angola, Share of Offshore Production in Total Oil and Gas Production, %, 2001-2011 40
  • Figure 21: Oil and Gas Exploration and Production Industry, Angola, Forecast Production of Oil and Natural Gas from Offshore Fields, MMboe, 2011, 2015 and 2020 41
  • Figure 22: Oil and Gas Exploration and Production Industry, Angola, Location of Negage Production Field, 2012 42
  • Figure 23: Oil and Gas Exploration and Production Industry, Angola, Location of Cravo, Lirio, Orquidea and Violeta (CLOV) Production Fields, 2012 43
  • Figure 24: Oil and Gas Exploration and Production Industry, Angola, Offshore Oil and Gas Production of Top 10 Companies, MMboe, 2011 45
  • Figure 25: Oil and Gas Exploration and Production Industry, Equatorial Guinea, Offshore Oil and Gas Production, MMboe, 2001-2011 48
  • Figure 26: Oil and Gas Exploration and Production Industry, Equatorial Guinea, Forecast Production of Oil and Natural Gas from Offshore Fields, MMboe, 2011, 2015 and 2020 49
  • Figure 27: Oil and Gas Exploration and Production Industry, Equatorial Guinea, Location of Alen Field, 2012 50
  • Figure 28: Oil and Gas Exploration and Production Industry, Equatorial Guinea, Location of Alba Field, 2012 52
  • Figure 29: Oil and Gas Exploration and Production Industry, Republic of the Congo, Location of Moho Nord Marine-4 Well, 2011 55
  • Figure 30: Oil and Gas Exploration and Production Industry, Republic of the Congo, Share of Offshore Production in Total Oil and Gas Production, %, 2001-2011 56
  • Figure 31: Oil and Gas Exploration and Production Industry, Republic of the Congo, Forecast Production of Oil and Natural Gas from Offshore Fields, MMboe, 2011, 2015 and 2020 57
  • Figure 32: Oil and Gas Exploration and Production Industry, Republic of the Congo, Location of N'kossa Field, 2012 61
  • Figure 33: Oil and Gas Exploration and Production Industry, Ghana, Location of Jubilee Field, 2012 65
  • Figure 34: Oil and Gas Exploration and Production Industry, Ghana, Forecast Production of Oil from Offshore Fields, MMbbl, 2011, 2015 and 2020 66
  • Figure 35: Oil and Gas Exploration and Production Industry, Ghana, Location of Tweneboa Field, 2012 67
  • Figure 36: Oil and Gas Exploration and Production Industry, Ghana, Location of Mahogany East, 2012 68
  • Figure 37: Oil and Gas Exploration and Production Industry, Ghana, Location of Odum Field, 2012 69
  • Figure 38: Oil and Gas Exploration and Production Industry, Ghana, Production Forecasts of Oil from Jubilee Field, MMbbl, 2012-2020 72
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