BMI View: Ghana’s hallmark Jubilee field is now within sight of targeted peak output of 120,000 barrels per day, after a series of technical problems led to delays. Approval of the TEN project, with first oil due in 2016, reinforces the positive outlook for nascent oil sector over the near to medium term. However, we caution that toward the latter end of our 10-year forecast period, new volumes will be needed from discoveries or prospects under appraisal, lest output begins to slip. With regard to gas, the resolution of a payment dispute with Sinopec has cleared the way for the …
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