Prior to 2011, exploration in Angola's Kwanza Basin had been 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 instead. 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. While expectations for the play have rested on oil, recent discoveries contain considerable volumes of gas. The lack of a gas market and uncertainties around gas commercialisation are key concerns for operators, who will continue to focus on exploration and development of liquids.
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Oil and gas exploration is an industry in constant motion, from technological breakthroughs to shifting supply and demand. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.
This Exploration Basin report provides a detailed analysis of exploration of this basin, including discovery and development costs, location maps and information about licensing and fiscal terms. You'll also find information about discovery and development costs and full-cycle returns.
Explorers and advisors can use this report to understand the history and potential value of this basin.
Wood Mackenzie has access to historic data for over 450 basins and forecasts for more than 125 basins. We provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies.
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Asset report | Apr 2016
Angola Kwanza exploration basin
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