Angola Oil and Gas Report - Business Monitor International - Industry Reports

Angola Oil and Gas Report

Angola Oil and Gas Report - Business Monitor International - Industry Reports
Angola Oil and Gas Report
Published Aug 13, 2016
85 pages — Published Aug 13, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

Angola s reserves are located offshore and onshore along the coast in three main basins: the Lower Congo Basin, the Kwanza Basin and the Namibe Basin. Most of the country s reserves are in Lower Congo or Kwanza, with most production coming from the exclave of Cabinda. ...A heavy focus on the Kwanza Basin pre-salt has returned five major discoveries since ----: Bicuar, Cameia, Lontra, Mavinga and Orca in blocks -- and --. The blocks operator Cobalt International, who is in negotiations to sell the block, has offered a gross resource estimate of -.---bn barrels (bbl) of oil and well testing reports good reservoir quality and high flow rates of up to -,--- barrels of oil equivalent per day (boe/d). The Lower Congo also continues to offer a high drilling success rate. Major discoveries in ---- included Eni s Ochigufu discovery in deepwater block --/--. The discovery is estimated to contain ---mn bbl of oil in place and will be tied back to the company s West Hub development.

...BMI View: Angola s oil production is forecast to remain strong and unaffected by low oil prices, with output rising up until ----. Post-----, oil production will fall off due to a steep decline in rates on mature fields and no new projects forecast to counteract the declines. ...Gas production will remain limited throughout our forecast with weak domestic demand, but will benefit from the ALNG coming back online after two years of closure. The downstream outlook is bleak, as we have removed one of the two planned refineries from our forecast due to a lack of progress and the poor financial position of Sonangol. The downstream outlook is bleak, as we have removed one of the two planned refineries from our forecast due to a lack of progress and the poor financial position of Sonangol. Refined products production, ---b/d --.- --.- --.- --.- --.- ---.- ---.- Refined products consumption & ethanol, ---b/d ---.- ---.- ---.- ---.- ---.- ---.- ---.- Dry natural gas production, bcm -.- -.- -.- -.- -.- -.- -.-

...The Angolan onshore bid round closed on October - ----; Sonangol is currently examining the bids and was aiming to release the results in Q---. However, at the time of writing there was still no update on the round. ...The discovery is Cobalt s sixth pre-salt discovery offshore Angola and its third discovery in block --. However, despite this remarkable run of exploration success, the Houston based company is in negotiations with Sonangol to sell its stake in the block, a possible sign of above-ground issues. BP made a sizable discovery in Block --, totalling -.-bn boe, which comprises ---mn barrels of condensate and eight tcf of gas. ...

  
Source:
Document ID
1748-3794
Country
Industry
Format:
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Angola Oil and Gas Report" Aug 13, 2016. Alacra Store. Dec 03, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Angola-Oil-and-Gas-Report-2026-504>
  
APA:
Business Monitor International - Industry Reports. (2016). Angola Oil and Gas Report Aug 13, 2016. New York, NY: Alacra Store. Retrieved Dec 03, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Angola-Oil-and-Gas-Report-2026-504>
  
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