DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/b55055/the_west_african_o) has announced the addition of Frost & Sullivan's new report "The West African Oil and Gas Market" to their offering.
The research service investigates the upstream, midstream and downstream oil and gas markets of countries across West Africa. The countries investigated in the report includes Nigeria, Gabon, Cameroon, Ghana, Cote d'Ivoire, Congo Brazzaville and Equatorial Guinea. Analysis into the upstream market investigates current exploration licences, crude oil production, proven reserves, key players in the market and major producing fields. Within the Midstream analysis, insight is given into current existing refining capacity within each country as well as the capacities of these refineries. In the downstream sector, the report investigates the supply, distribution and marketing of refined petroleum products throughout national markets.
This research service titled The West African Oil and Gas Market provides an in-depth analysis of market drivers, restraints and industry challenges effecting market growth in the region. The study investigates the current market infrastructure and operations of key participants in the oil and gas industry in the upstream, refining and downstream market sectors.
Market Overview
Prospects for West African Oil and Gas Market Upbeat as Exploration Initiatives Pick up Steam.
The demand upswing for oil products from West Africa is primarily due to the growing demand for petroleum products in the United States, China and emerging economies. This has triggered prolific production and exploration initiatives in West Africa. Although there are significant natural gas reserves within the region, production of natural gas is limited primarily to Nigeria with the majority of countries still flaring their natural gas. Nigeria is responsible for 80 percent of West Africa's natural gas exports, accounting for approximately 725 billion cubic feet in 2009. The only other exporter of natural gas from the region was Equatorial Guinea with total exports touching 180 billion cubic feet in 2009. Greater focus on natural gas production and refining in recent years has opened new export markets and generated additional revenues for the West African economies, notes the analyst of this research service. The development of liquefied natural gas (LNG) refining capacity within West African states, particularly Equatorial Guinea, Cameroon, and Nigeria is indicative of the future development of the natural gas export market in the region.
A significant challenge to downstream markets of the region is the low availability of refining capacity and adequate logistical infrastructure. Existing refining capacity operates at very low efficiencies. Therefore, despite being oil rich, most West African states are heavily dependant on imports of refined oil products. Furthermore, once the product is imported, logistical infrastructure for the movement of product inland is significantly undeveloped. Existing road, rail and pipeline networks are not maintained, resulting in long delays in the delivery of product. Owing to the lack of knowledge in best practices within the industrial sector of the region in engineering, construction, project development, finance, as well as product and skills sourcing and procurement, the West African region represents a significant opportunity for consultancy services. Consultancy services can provide accurate and up-to-date market intelligence and forecasts as well as specialised expertise in project development to help stimulate industrial growth through foreign direct investment and local business development.
Intensified exploration initiatives are being undertaken in Ghana following the discovery of the Jubilee field in the deep water Tano Block as well as Gabon, as the government scouts for new ways to counter diminishing oil production, concludes the analyst. A firm understanding of license ownership rights and taxes and levies payable, as well as a strong relationship with government departments and decision makers is essential to ramp up the efficiency of upstream operations within the region.
Market Sectors
Expert analysts thoroughly examine the following market sectors in this research:
- Upstream
- Refining
- Downstream
By Geographic Region:
- Nigeria
- Ghana
- Cote d'Ivoire
- Gabon
- Equatorial Guinea
- Cameroon
- Republic of Congo
Key Topics Covered:
1. Research Mission and Objectives 1.1 Mission Statement and Objectives
2. Market Scope and Segmentation 2.1 Geographical Scope 2.2 Industry Scope 2.3 Introduction 3. Executive Summary 3.1 Market Overview
4. Total Market Overview 4.1 Upstream 4.1 a Production and Consumption 4.1 b Proved Reserves 4.1 c Exploration and Appraisal 4.2 Refining and Manufacturing 4.3 Supply, Transmission and Trading 4.3 a Supply Chain Operations 4.3 b Terminal Management 4.3 c Exports and Imports 4.4 Downstream
5. Market Overview by Country 5.1 Nigeria 5.2 Republic of Congo 5.3 Gabon 5.4 Equatorial Guinea 5.5 Cameroon 5.6 Ghana 5.7 Cote dIvoire
6. Conclusion
7. About Frost & Sullivan
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