West Africa Oil & Gas Forecast The Customer Belinda Williams Driven Retailer Grounded in Insights, Fueled by Data and Analytics August 1, 2011 30 January 2014
Agenda 1 West Africa is an established region for Oil & Gas activity.. 4 2 West Africa Oil Reserves.......... 7 3 West Africa Gas Reserves.......... 15 4 Future Scenarios.. 20 2
Sub-Saharan Africa Oil & Gas West Africa is an established region for Oil & Gas activity Sub-Saharan Africa is a vast region of approximately 27 million square kilometers. Geographically, it is the area of the continent of Africa that lies south of the Sahara Desert. Politically, it 3
Sub-Saharan Africa Oil & Gas West Africa is an established region for Oil & Gas activity Sub-Saharan Africa currently accounts for a relatively small percentage of world production and reserves for oil and gas. As at January 2014, Sub-Saharan Africa's share of world oil production and oil reserves was 6.52% and 4.26% respectively, and the share of gas production and reserves was 3.19% and 3.28% respectively. However, these production and reserve numbers are expected to grow significantly as the vast continent remains one of the last exploration frontiers for oil and gas, as evidenced by the exploration activity by upstream companies and significant oil and gas discoveries in the region. Sub-Saharan Africa Oil Production (barrel per day) Proven Oil Reserves (million barrels) Gas Production (cubic metres per year) Proven Gas Reserves (cubic metres) Production / Reserves Share of World 5 709 471 6.52% 63 118 4.26% 107 024 000 000 3.19% 6 143 337 168 800 3.28% SubSahara n Africa Sub-Saharan Africa map depicting the relative size of Africa ~27 million square kilometres 4
Sub-Saharan Africa Oil & Gas West Africa Oil Reserves Rank Country Reserves (MMbbl) Share of World Production 10 Nigeria 37 200 2.51% 18 Angola 10 470 0.71% 26 Ghana 5 000 0.34% 31 Gabon 3 700 0.25% 37 Congo, Republic of the 1 940 0.13% 38 Equatorial Guinea 1 705 0.12% 59 Cameroon 200 0.01% 71 Ivory Coast 100 0.01% 72 Mauritania 100 0.01% 92 Benin 8.0 0.001% Total 60 423 4.08% MMbbl = 1 million barrels 5
Sub-Saharan Africa Oil & Gas West Africa Gas Reserves Rank Country Gas Reserves (m3) Share of World Production 8 Nigeria 5 246 000 000 000 2.80% 42 Angola 271 800 000 000 0.15% 50 Cameroon 135 100 000 000 0.07% 56 Congo, Republic of the 90 610 000 000 0.05% 61 Namibia 62 290 000 000 0.03% 67 Equatorial Guinea 36 810 000 000 0.02% 70 Cote d'ivoire 28 320 000 000 0.02% 71 Mauritania 28 320 000 000 0.02% 72 Gabon 28 320 000 000 0.02% 75 Ghana 22 650 000 000 0.012% 96 Benin 1 133 000 000 0.001% Total 5 951 353 000 000 3.18% 6
Future Scenarios Africa Oil & Gas current vs proposed future activity Refineries: Sub-Saharan Africa is under-invested in refining capacity relative to the rest of the world. Offshore exploration: additional activity in East Africa. Local Africa demand: economic development in Africa will spur demand for natural gas. 7
Future Scenarios Africa Oil & Gas proposed future activity Sub-Saharan Africa the next 20 years Over the next 20 years SubSaharan Africa will see significant changes in the upstream and midstream sectors of the oil and gas value chain. Included in this section is an examination of current Oil & Gas activity and an assessment of proposed future Oil & Gas activity over the next 20 years. 8
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