We use cookies on the public areas of our website. They let you easily navigate your way around the site and allow us to improve its performance, or even recommend content we believe will be of most interest to you. By continuing to browse the site you are agreeing to our use of cookies. If you would like to learn more about how we use cookies and how you can manage them, see our Privacy & Cookie Policy.
The Lower Congo Basin is one of a series of prolific oil and gas producing basins along Africa’s 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.
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.
Wood Mackenzie's clients include every major player in the global energy, metals and mining industries. We are recognised as a leading authority by international and national energy, metals and mining companies, leading financial institutions, governments and government agencies. We work with a range of diverse teams within our clients, from strategy and policy makers, business developers and market analysts, through to corporate finance, risk teams and investors.
Having Wood Mac analysis is table-stakes. Others are nice to have.
Analyst Metal Mining Producer
Wood Mac has the highest quality data and is demanded by our staff.
Portfolio Manager Integrated Oil Company
Others can provide data but we value the quality of the Wood Mac analysis above other sources.
As the trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, we empower clients to make better strategic decisions with objective analysis and advice. Find out more...
Contact Us
Asset report | Jul 2016
Angola Lower Congo exploration basin
Have questions? Just let us know how to contact you and we will respond to you as soon as possible.
