Equatorial Guinea Oil and Gas Midstream Market

The Equatorial Guinea oil and gas midstream market size is anticipated to expand at a CAGR of more than 0.44% during the forecast period, 2021–2028. The growth of the market is attributed to the factors such as discoveries of new oil fields and increasing gas production.

Crude oil can be defined as a mixture of relatively volatile hydrocarbons that are found in porous rocks of the earth's crust. Equatorial Guinea has been an important oil producer of Central Africa. The crude oil that is produced by Equatorial Guinea is mainly extracted from the Zafiro, Alba, and Ceiba. Midstream market of Equatorial Guinea includes activities such as processing, storing, transporting, and marketing of oil and natural gas.

The country's economy has improved because of the present-day increase in the extraction of petroleum. As a result of the drastic increase in oil production in recent times, Equatorial Guinea has managed to become the third-largest producer of crude oil in Africa. Equatorial Guinea has heavily invested in improving their oil and gas midstream infrastructure in past decade which has vastly benefitted their substantial growth in GDP. Equatorial Guinea’s GDP is among the highest in the world with an estimated GDP per capita of $50,240 which is second only to Luxembourg. On the basis of oil extraction, the country extracts more than 500,000 barrels of oil from its three main oil fields.

Market Trends, Drivers, Restraints, and Opportunities

• Increasing gas production and discoveries on new oil fields is projected to drive the market expansion in the coming years.  
• Rapid growth of the industrial and various end-user sectors, growing population, and various government initiatives to invest in the pipelines, storage, and processing are major factors pushing the market growth during the forecast period.
• Increasing fluctuations of oil prices and continuous fall in oil production in recent years is expected to hinder the market expansion in the coming years,
• Lack of investments from private players in the market and decreasing employment opportunities in the sector present major challenges that can hamper the market growth during the forecast period.  
• The governments push towards encouraging investment in oil and gas midstream market with introduction of various initiatives and discovery of new oil fields is expected to create lucrative opportunities for the market players.

Scope of Oil and Gas Midstream Market Report

The report on the Equatorial Guinea market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Equatorial Guinea Oil and Gas Midstream Market Segment Insights

Pipelines are projected to dominate the market

Based on transportation, the Equatorial Guinea oil and gas midstream market is segregated into pipelines, oil tankers, LNG vessels, rail transport, and trucks. The pipelines segment is projected to dominate the market during the forecast period. The segment growth is attributed to factors such as, reduced transportation costs, lower energy use, and larger volumes of oil and gas can be transported in comparison to other modes.

Transportation of oil and gas through pipelines is much more efficient and is an eco-friendly option which helps Equatorial Guinea to maintain their carbon footprints to optimal levels. Significant increase of oil and gas production by more than 5% year-on-year, from 6200 million cubic meter, in 2015 to more than 8500 million cubic meters, in 2020 is projected to spur the segment growth at a healthy CAGR during the forecast period.

Terminals and Bulk Plants to exhibit high CAGR

Based on storage, the Equatorial Guinea oil and gas midstream market is segmented into terminals and bulk plants, tank farms, and storage tanks. Terminals and bulk plants are projected to account for major market share and expand at a significant pace. Terminals are type of storage facilities which typically receives crude oil by pipelines or marine vessels. They can store large amounts of oil and further used to distribute to various end-users via pipelines.

In terms of storage terminals are efficient and cost effective in contrast to others, they can be owned and operated by oil companies, pipeline companies, independent terminal operators, and large or commercial consumers.

Segments

Transportation

• Pipelines
• Oil Tankers
• LNG Vessels
• Rail Transport
• Trucks

Storage

• Terminals and Bulk Plants
• Tank Farms
• Storage Tanks

Country

• Equatorial Guinea

Key Players

• Equatorial Guinea of ​​Petroleum
• Marathon Oil Company
• Saipem S.P.A.
• Sociedad Nacional de G.E.
• Maritime Developments Ltd.

Competitive Landscape

Key players competing in the Equatorial Guinea oil and gas midstream market include Equatorial Guinea of ​​Petroleum, Marathon Oil Company, Saipem S.P.A., Sociedad Nacional de G.E., and Maritime Developments Ltd.