Nigeria: upstream investment opportunities

An acquisition assessment review

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Nigeria is Africa’s largest oil producer with an established industry that dates back to the 1950s. In 2020, the country produced a daily average of 1.9 million barrels of liquids and 4.6 billion cubic feet (bcf) of sales gas from over 220 fields and 160 upstream operators.

The International Oil Companies (IOCs) are accelerating their energy transition and spending less on their Nigeria portfolio. Project economics have improved with recent increases in oil prices and better capital discipline. With world-class reserves holding an estimated 9.1 billion barrels of oil and 30 trillion cubic feet (tcf) of gas, Nigeria has attractive brownfield investment opportunities.

Our new asset acquisition assessment reports include:

  • Valuation metrics, breakeven prices, revenue breakdown and sensitivity analyses
  • Upside opportunities and downside risks
  • Post-Petroleum Industry Bill (PIB) implications and valuations
  • Forecast production and cost profiles up to 2040 
  • Commentary and insight from our regional experts

 

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Find out what’s driving investor interest in Nigeria and how Wood Mackenzie – as the leading transactions advisor in the energy industry – can support your organisation.

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Dr. Simon Anderson, Director, Sub-Saharan Africa

Opinion
Brownfield investment

Why investors may have Nigerian upstream assets in their sights

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