Asset Report

Congo Lower Congo exploration basin

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16 May 2019

Congo Lower Congo exploration basin

Report summary

Congo's share of the Lower Congo Basin captures the northern end of the key play fairways that have yielded over 24 billion boe further south in Angola. These include a continuation of the Cretaceous (post-salt) carbonate play in shallow water (Congo's Sendji Formation correlates with Angola's Pinda Formation), and emerging plays in the pre-salt (Cretaceous) and deepwater (Tertiary). The long-standing Sendji play, which accounts for most production, is now mature. Explorers are turning their attention to new plays and have achieved good returns. Recent success has been from the pre-salt, most recently in shallow water (Nene Marine). There is extensive onshore and offshore infrastructure to support the commercialisation of smaller finds as tie-backs to existing developments. Large discoveries in the shallow water are commercial on a standalone basis, even in the lower oil price environment.

Table of contents

  • Key issues include:
  • Licensing participation
  • Wells drilled
  • Basin success rates
  • Volumes discovered
  • Prospective resource potential
  • Play inputs
  • Model field pool size distribution
  • Yet-to-find costs and underlying development assumptions
  • Licensing
  • Fiscal terms
  • Oil and gas prices
  • TYP economics
    • Development value
    • Cretaceous Pre-salt shelf
    • Tertiary deepwater
    • Prospect breakeven price
    • Tertiary deepwater
    • Cretaceous pre-salt shelf
    • Expected monetary value (EMV)
  • Play economics
  • Full cycle basin economics

Tables and charts

This report includes 56 images and tables including:

  • Commerciality index:
  • Congo Lower Congo plays
  • Congo Lower Congo wells
  • Licensed exploration acreage
  • Expiry forecast of current licences
  • 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
  • Key play characteristics
  • Drilling activity by well type
  • Cumulative exploration wells by play
  • 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)
  • Cumulative discoveries by play
  • Cumulative volumes discovered by play
  • Forecast data by play (2019-2035)
  • Tertiary Deepwater
  • Cretaceous Pre-salt Shelf
  • Tertiary Deepwater
  • Cretaceous Pre-salt Shelf
  • Tertiary Deepwater
  • Cretaceous Pre-salt Shelf
  • Tertiary Deepwater
  • Cretaceous pre-salt Shelf
  • Recent discovery costs
  • Summary of discovery and development costs
  • Exploration and appraisal spend
  • Exploration spend per well and average well depth
  • Typical fiscal terms
  • Brent and local oil price assumptions
  • Value creation, spend and volume discovered
  • Returns by drilling year
  • Breakeven price versus prospect size
  • Value creation versus investment
  • Cretaceous Pre-salt Shelf
  • Tertiary Deepwater
  • Full-cycle economic analysis
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Breakeven price of exploration
  • Discount rate breakeven price sensitivities
  • Breakeven price of exploration
  • Discount rate breakeven price sensitivities
  • Cretaceous Pre-salt Shelf
  • Tertiary deepwater

What's included

This report contains:

  • Document

    Congo-Brazzaville_Lower Congo.zip

    ZIP 2.40 MB

  • Document

    Congo Lower Congo exploration basin

    PDF 2.14 MB

  • Document

    Congo Lower Congo exploration basin

    ZIP 4.39 MB

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