Chile Oil and Gas Report Q4 2016

Date: August 31, 2016
Pages: 90
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: CD888232060EN

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Includes 3 FREE quarterly updates

BMI View: With a lack of below-ground rewards, Chile will suffer from a continued deficit of hydrocarbon supplies and a high dependence on imported energy feedstock. Chile's most immediate opportunities lie in the expansion of their LNG import facilities as a means to meet growing domestic demand. On a longerterm basis, Chile is exploring the possibility of tapping its unconventional resources in the Magallanes region, though we caution its development will remain challenging within a lower oil price environment.

Key trends and developments in the Chilean oil & gas sector are:
  • On June 13, Chilean national oil company (NOC) Empresa Nacional Del PetrĂ³leo (ENAP) announced it had signed an agreement with US independent ConocoPhillips to explore for and produce natural gas in the south of the country. The agreement (known as CEOP) will target the CoirĂ³n block in the Magallanes region, with the NOC retaining a 51.0% operating stake in the project. The CEOP will allow ConocoPhillips to increase its upstream activity in phases, with investment expected to reach USD70-100mn over the next four years, depending on exploration and appraisal results within the play.
  • The Mejilliones LNG import terminal received environmental approval for its USD40mn expansion project in July 2016. The project is expected to expand liquefaction capacity from 5.5mcm/d to 10mcm/d.
  • In August, ENAP completed a USD700bn international bond issue with a yield of 3.951% and a coupon of 3.75%, maturing in 2026. This issuance was a record for the NOC for the highest dollar amount and lowest yield in the company's history.
  • Chile will remain among Latin America's most advanced economies over the coming decade, supported by its strong fundamentals. Manufacturing and services will increasingly drive growth, as the end of the commodity boom dims the copper sector's outlook.
BMI Industry View
  Table: Headline Forecasts (Chile 2014-2020)
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Latest Updates
Structural Trends
Upstream Projects
  Table: Key Upstream Projects In Chile
Upstream Production - Oil
Latest Updates
Structural Trends
  Table: GeoPark Holdings In Chile, Summary By Block
  Table: Oil Production (Chile 2014-2019)
  Table: Oil Production (Chile 2020-2025)
Upstream Production - Gas
Latest Updates
Structural Trends
  Table: Gas Production (Chile 2014-2019)
  Table: Gas Production (Chile 2020-2025)
Latest Updates
Structural Trends
  Table: Refining Capacity and Refined Products Production (Chile 2014-2019)
  Table: Refining Capacity and Refined Products Production (Chile 2020-2025)
Refined Fuels Consumption
Latest Updates
Structural Trends
  Table: Refined Products Consumption* (Chile 2014-2019)
  Table: Refined Products Consumption* (Chile 2020-2025)
Gas Consumption
Latest Updates
Structural Trends
  Table: Gas Consumption (Chile 2014-2019)
  Table: Gas Consumption (Chile 2020-2025)
Trade - Oil
Crude Oil: Latest Updates
Crude Oil: Structural Trends
  Table: Crude Oil Net Exports (Chile 2014-2020)
  Table: Crude Oil Net Exports (Chile 2020-2025)
Refined Products: Latest Updates
Refined Products: Structural Trends
  Table: Refined Fuels Net Exports (Chile 2014-2019)
  Table: Refined Fuels Net Exports (Chile 2020-2025)
Trade - Gas (Pipeline And LNG)
Latest Updates
Structural Trends
  Table: Gas Net Exports (Chile 2014-2019)
  Table: Gas Net Exports (Chile 2020-2025)
Industry Risk Reward Index
Latin America - Oil & Gas Risk/Reward Index
  Table: Latin America - Composite Risk/Reward Index
Composite RRI: Continued Adjustments Level Off Rankings
Upstream RRI: Steady Scores Mask Forthcoming Shifts
  Table: Latin America - Upstream Risk/Reward Index
Downstream: NOC Dominance Will Reinforce Fuels Deficit
  Table: Latin America Downstream Risk/Reward Index
Chile - Risk/Reward Index
Upstream Index
Downstream Index
Market Overview
Energy Market Overview
State Role And The New National Energy Policy
Investment Rounds
International Energy Relations
Oil And Gas Infrastructure
Oil Refineries
  Table: Refineries In Chile
Service Stations
Gas Pipelines
LNG Terminals
  Table: LNG Terminals In Chile
Competitive Landscape
Competitive Landscape Summary
  Table: Chile - Key Players
  Table: Chile - Key Upstream Players
  Table: Chile - Key Downstream Players
Company Profile
  Table:   Table: Major Assets In Chile
  Table:   Table: Key Financial Data (USDmn)
Regional Overview
Latin America Overview
  Table: Latin America Oil and Gas Production, Refining Capacity and Trade, 2014-2025
  Table: Glossary Of Terms
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Bmi's Oil & Gas Upstream Risk/Reward Index
  Table: Weighting
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