Angola Lower Congo exploration basin
The Lower Congo Basin is one of a series of prolific oil and gas producing basins along Africa’s Atlantic south conjugate margin. Despite its long exploration history, significant prospective resource exists, particularly within the deepwater Tertiary turbidites. Smaller volumes remain in the Cretaceous carbonate play within the shelf environment, where explorers can benefit from lower costs and shorter lead times. Explorers have the opportunity to create value in the basin, although high costs and PSC terms limit returns. Exploration activity has stalled in recent years, but we expect well numbers to pick up following recent drilling success.