Asset Report
Angola Kwanza exploration basin
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Report summary
Prior to 2011, exploration in Angola's Kwanza Basin was disappointing, with just a few small oil discoveries having been made in Late Cretaceous and Tertiary reservoirs. Explorers focused on the more productive reservoirs of the Lower Congo Basin. However, more recently, the phenomenal success of the Early Cretaceous pre-salt reservoirs in Brazil has brought the exploration potential of the Kwanza back into view. The shared geological history of the two basins has led explorers to believe that the pre-salt play in the Kwanza Basin could hold giant deposits of oil, and the 2010/2011 deepwater licensing round was highly competitive. To date 13 discoveries have been made. However, discoveries so far contain considerable quantities of gas, and given the lack of a gas market and uncertainties around commercialisation, future exploration will focus on liquids. Our outlook analysis is solely focused on the deepwater pre-salt. Full details are available to download in excel and pdf format.
Table of contents
- Key facts
-
Summary and key issues
- Key issues include:
- Location maps
- Participation
- Key companies
- Geology
-
Exploration
- Wells drilled
- Basin success rates
-
Reserves and resources
- Volumes discovered
-
Prospective resource potential
- Play inputs
- Model field pool size distribution
- Existing discoveries and modelled prospective resource pool size distribution
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Development
- Prospective resource costs and underlying development assumptions
- Costs
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Fiscal and regulatory
- Licensing
- Fiscal terms
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Economic assumptions
- Oil and gas prices
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Economic analysis
- TYP economics
- Outlook economics
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Development value
- Prospect breakeven price
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Full cycle economic analysis
- Implied acreage value
Tables and charts
This report includes 51 images and tables including:
- Key play characteristics
- Assumptions
- Summary and key issues: Image 1
- Value creation versus investment (outlook)
- Exploration history
- Exploration wells by play
- Participation: Image 1
- Participation: Image 2
- Key licence holders
- Key well operators (TYP period) and success rates
- Key companies: Image 1
- Key companies: Image 2
- Key play characteristics
- Recent discovery costs
- Summary of discovery and development costs
- Exploration and appraisal spend
- Exploration spend per well and average well depth
- Commerciality index
- Exploration: Image 1
- Exploration: Image 2
- Discoveries and success rates
- Discoveries by licence year and drilling year
- Basin creaming curve
- Key basin data
- Volumes discovered by year
- Average discovery size and volume per well by year
- Top discoveries (TYP period)
- Reserves and resources: Image 4
- Reserves and resources: Image 5
- Forecast data by Play (outlook)
- Cretaceous Deepwater (pre-salt)
- Typical fiscal terms
- Brent and local oil price assumptions
- Henry Hub and local oil price assumptions
- Value creation, spend and volume discovered
- Economic analysis: Image 2
- Breakeven price versus prospect size
- Value creation versus investment
- Economic analysis: Image 5
- Economic analysis: Image 6
- Economic analysis: Table 3
- Reserves and resources: Image 6
- Reserves and resources: Table 4
- Reserves and resources: Table 5
- Cretaceous Deepwater (pre-salt)
- Cretaceous Deepwater (pre-salt)
- Economic analysis: Image 7
- Economic analysis: Image 8
- Expected monetary value (EMV)
- Play economics
- Average value of future discoveries and implied acreage value
What's included
This report contains:
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