BMI View: Although the start of a number of small fields and continued interest in West Africa’s deepwater are positive trends for Equatorial Guinea’s oil and gas sector, the temporary recovery in oil production will gave way to gradual downtrend, placing the country’s heavily oil dependent economy at risk. While the resources may have been identified to support an expansion of the country’s LNG export capacity, uncertainty over the market and infrastructure has seen an investment decisions repeatedly delayed. Notwithstanding the risk of new discoveries, we expect both oil and gas production in the West African nation to gradually head …
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