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Gabon Oil and Gas Report Q2 2016

Gabon Oil and Gas Report Q2 2016

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 developments we highlight for Gabon's oil and gas sector are as follows:

Gabon will be among the countries least exposed to a regional slowdown in exploration spending, thanks to the more proven nature of its basins, high prospectivity and the range of companies active in its waters. However, Gabon will need to significantly relax its fiscal terms, if it is to secure new investment in its flagging oil and gas sector. This is notably the case in the context of the 11th Licensing Round planned for 2016.

In October 2015, Shell reported its Leopard Marin discovery offshore Gabon may be a new commercial gas discovery, saying it could be the ' first potentially multi-million trilling cubic feet find in a new gas play.' In 2014, the Leopard-1 well which was drilled to a total depth of 5,063m, had encountered a gas column with 200m of net gas pay.

Gabon's oil production will remain in a downtrend despite redevelopment works and field tie-ins slightly stemming the production decline over the coming years. The country's ability to offset output decline from its major maturing oilfields hinges on development of its pre-salt resources. In this domain, the major pre-salt Dussafu block FID is delayed. We do not include it within the forecast until more certainty is provided concerning the development.


BMI Industry View
Table: Headline Forecasts (Gabon 2014-2020)
SWOT
Industry Forecast
Upstream Exploration
Latest Updates
Structural Trends
Upstream Projects
Table: Gabon Major Upstream Projects
Upstream Production - Oil
Latest Updates
Structural Trends
Table: Oil Production (Gabon 2014-2019)
Table: Oil Production (Gabon 2020-2025)
Upstream Production - Gas
Latest Updates
Structural Trends
Table: Gas Production (Gabon 2020-2025)
Refining
Latest Updates
Structural Trends
Table: Refining Capacity and Refined Products Production (Gabon 2014-2019)
Table: Refining Capacity and Refined Products Production (Gabon 2020-2025)
Refined Fuels Consumption
Latest Updates
Structural Trends
Table: Refined Products Consumption* (Gabon 2014-2019)
Table: Refined Products Consumption* (Gabon 2020-2025)
Gas Consumption
Latest Updates
Structural Trends
Table: Gas Consumption (Gabon 2014-2019)
Table: Gas Consumption (Gabon 2020-2025)
Trade - Oil
Crude Oil
Latest Updates
Latest Updates
Table: Crude Oil Net Exports (Gabon 2014-2020)
Table: Crude Oil Net Exports (Gabon 2020-2025)
Refined Fuels
Latest Updates
Structural Trends
Table: Refined Fuels Net Exports (Gabon 2014-2019)
Table: Refined Fuels Net Exports (Gabon 2020-2025)
Industry Risk Reward Ratings
Africa - Oil & Gas Risk/Reward Index
Table: BMI Africa Oil & Gas Risk/Reward Index
Above-Ground Risks Dulling Below-Ground Potential
Table: BMI Africa Upstream Risk/Reward Index
Downstream Sector Holds Limited Opportunity
Table: BMI Africa Downstream Risk/Reward Index
Gabon - Risk/Reward Index
Gabon - Upstream Index
Gabon - Downstream Index
Market Overview
Gabon Energy Market Overview
Regulatory Structure
Fiscal Regime
Table: Gabon Fiscal Regime
Licensing Regime
Table: Gabon Licensing Terms
Licensing Rounds
Oil And Gas Infrastructure
Oil Refineries
Gas Facilities
Competitive Landscape
Competitive Landscape Summary
Table: Key Players - Gabon Energy Sector
Company Profile
Addax Petroleum
Other Summaries
Regional Overview
Africa - Bullish Gas, Bearish Oil
Table: Africa Oil & Gas Production, Consumption, Refining Capacity And Trade
Glossary
Table: Glossary Of Terms
Methodology
Industry Forecast Methodology
Source
Risk/Reward Index Methodology
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
Table: Weighting

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