Asset report
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36 Pages

Angola Lower Congo exploration basin


Angola Lower Congo exploration basin

Report summary

The Lower Congo Basin is one of a series of prolific oil and gas producing basins along Africa‚Äôs Atlantic coast, which in Angola has yielded 24.8 billion boe of discovered resource to date. Significant yet-to-find volumes exist, particularly within the deepwater and ultra-deepwater Tertiary turbidite sandstones. Smaller volumes remain in the Cretaceous carbonate play on the shelf. Exploration activity levels have fallen in recent years, not least because of competition for rig time from the neighbouring Kwanza Basin. Issues for explorers include large signature bonuses, high exploration and development costs, and PSC terms that limit returns. Cost recovery terms are such that for the most capital intensive projects, companies may need the entire field life to recover their investment as cost oil.  However, the cost recovery limit is more generous for the ultra-deepwater play, limiting the tax take.


What's included?

This report includes 2 file(s)

  • Angola Lower Congo exploration basin PDF - 838.85 KB 36 Pages, 30 Tables, 43 Figures
  • Angola Lower Congo.zip ZIP - 4.13 MB

Description

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.

Our in-depth analysis gives you the information you need to navigate the ever-changing challenges of oil and gas exploration so you can make critical commercial decisions.

  • Key facts
  • Summary and key issues
    • Key issues include:
  • Location maps
  • Participation
  • Key companies
    • Licensing participation
    • Company success rates
  • Geology
  • Exploration
    • Wells drilled
    • Basin success rates
  • Reserves and resources
    • Volumes discovered
    • Yet-to-find potential
    • Play inputs
    • Creaming curve and key play data
      • Model field pool size distribution
      • Existing discoveries and modelled yet-to-find pool size distribution
  • Development
    • Yet-to-find costs and underlying development assumptions
  • Costs
  • Fiscal and regulatory
    • Licensing
    • Fiscal terms
  • Economic assumptions
    • Oil and gas prices
  • Economic analysis
    • TYP economics
    • Outlook economics
      • Development value
      • Prospect breakeven price
      • Expected monetary value (EMV)
    • Full cycle basin economics
      • Full-cycle economic analysis
    • Implied acreage value

In this report there are 73 tables or charts, including:

  • Key facts
    • Key play characteristics
    • Assumptions
  • Summary and key issues
    • Value creation versus investment (TYP period)
    • Value creation versus investment (outlook)
    • Commerciality index
  • Location maps
    • Exploration history map
    • Exploration wells by play
  • Participation
    • Licensed exploration acreage
    • Expiry forecast of current licences
  • Key companies
    • Key licence holders
    • Key well operators (TYP period)
    • Gross exploration wells completed by operator
    • Net exploration wells completed by participant
    • Company success rates and discoveries
  • Geology
    • Key play characteristics
  • Exploration
    • Drilling activity by well type
    • Cumulative exploration wells by play
    • Discoveries and success rates
    • Discoveries by licence year and drilling year
  • Reserves and resources
    • Basin creaming curve
    • Key basin data
    • Volumes discovered by year
    • Average discovery size and volume per well by year
    • Top discoveries (TYP period)
    • Cumulative discoveries by play
    • Cumulative volumes discovered by play
    • Forecast data by Play (outlook)
    • Cretaceous Shelf
    • Reserves and resources: Table 4
    • Tertiary Deepwater
    • Reserves and resources: Table 5
    • Tertiary Ultra-Deepwater
    • Reserves and resources: Table 6
    • Cretaceous shelf
    • Tertiary deepwater
    • Tertiary ultra-deepwater
    • Cretaceous shelf
    • Tertiary deepwater
    • Tertiary ultra-deepwater
  • Development
    • Cretaceous shelf
    • Tertiary Deepwater
    • Tertiary Ultra-Deepwater
  • Costs
    • Recent discovery costs
    • Summary of discovery and development costs
    • Exploration and appraisal spend
    • Exploration spend per well and average well depth
  • Fiscal and regulatory
    • Typical fiscal terms
    • Fiscal and regulatory: Table 2
  • Economic assumptions
    • Brent and local oil price assumptions
  • Economic analysis
    • Economic analysis: Image 1
    • Returns by drilling year
    • Economic analysis: Image 3
    • Economic analysis: Image 4
    • Value of potential discoveries
    • Unit value of potential discoveries
    • Value of potential discoveries
    • Unit value of potential discoveries
    • Economic analysis: Image 9
    • Unit value of potential discoveries
    • Breakeven price of exploration
    • Discount rate breakeven price sensitivities
    • Breakeven price of exploration
    • Discount rate breakeven price sensitivities
    • Breakeven price of exploration
    • Discount rate breakeven price sensitivities
    • Cretaceous Shelf
    • Tertiary Deepwater
    • Tertiary Ultra-Deepwater
    • Cretaceous Shelf
    • Economic analysis: Table 5
    • Economic analysis: Table 6
    • Economic analysis: Table 7
    • Economic analysis: Table 8
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