2014-02-07 21:31:01 - Angola Oil and Gas Report Q1 2014 - a new market research report on companiesandmarkets.com
We retain an optimistic outlook on Angola´s oil and gas sector. The planned start of a number of major upstream projects will deliver strong growth over much of our forecast period, even as we expect output to slow from the end of the decade, we note there is a significant upside risk to this view stemming from ongoing exploration targeting Angola´s deepwater and sub-salt potential. The start of Angola LNG highlights opportunities - as well as technical and market - challenges on the gas side as well. With plans for frequent licensing rounds, including onshore and deepwater rounds for 2014 and 2015, we expect Angola to retain its position as major destination for investment within the industry. That said, regulatory
changes and political risks remain trends given their potential to slow the busy pace of activity offshore.
The main trends and developments we highlight for Angola´s oil and gas sector are as follows:
- BP started production from the PSVM field early 2013, which we expect to reach 150,000 barrels per day (b/d) of peak production by 2014. Chevron´s Mafumeira Sul project received a final investment decision and is set to start production from 2016/17.
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