Asset Report

Egypt Western Desert exploration basin

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15 August 2016

Egypt Western Desert exploration basin

Report summary

Full-cycle returns in Egypt's Western Desert Basin over the past decade have been excellent, even without the discovery of large reserve volumes. Explorers have benefited from relatively low unit finding and development costs, controlled by the use of long term drilling contracts, completion of exploration wells as producers, and the utilisation of existing pipelines - all of which were largely driven by the emergence of Apache as the leading operator in the basin. Exploration has focused on the northern portion of the basin, where two key plays are present: a Cretaceous play where reservoirs are predominantly oil-prone, and a deeper Jurassic play which is predominantly gas-prone. More recently Apache has opened up a third play in even deeper Paleozoic horizons, although this has yet to yield the level of resources found in the Cretaceous and Jurassic.

Table of contents

  • Key facts
    • Key issues include:
  • Location maps
  • Participation
  • Key companies
  • Geology
    • Wells drilled
    • Basin success rates
    • 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
    • Yet-to-find costs and underlying development assumptions
  • Costs
    • Licensing
    • Fiscal terms
    • Oil and gas prices
    • TYP economics
    • Outlook economics
      • Development value
        • Cretaceous
        • Jurassic
        • Paleozoic
      • Prospect breakeven price
        • Cretaceous
        • Jurassic
        • Paleozoic
      • Expected monetary value (EMV)
      • Play economics
    • Full cycle basin economics
      • Implied acreage value

Tables and charts

This report includes 73 images and tables including:

  • Play level data
  • Assumptions
  • Value creation versus investment (TYP period)
  • Value creation versus investment (outlook)
  • Exploration history map
  • Exploration wells by play
  • 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
  • Recent discovery costs
  • Summary of discovery and development costs
  • Exploration and appraisal spend
  • Exploration spend per well and average well depth
  • Commerciality index
  • 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 (outlook)
  • Cretaceous
  • Jurassic
  • Paleozoic
  • Cretaceous
  • Jurassic
  • Paleozoic
  • Cretaceous
  • Jurassic
  • Paleozoic
  • Typical fiscal terms
  • Brent and local oil price assumptions
  • Henry Hub and local gas price assumptions
  • Value creation, spend and volume discovered
  • Returns by drilling year
  • Breakeven price versus prospect size
  • Value creation versus investment
  • Full-cycle economic analysis
  • Cretaceous
  • Reserves and resources: Table 4
  • Jurassic
  • Reserves and resources: Table 5
  • Paleozoic
  • Reserves and resources: Table 6
  • Cretaceous
  • Jurassic
  • Paleozoic
  • Cretaceous
  • Jurassic
  • Paleozoic
  • Average value of future discoveries and implied acreage value
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Value of potential discoveries
  • Economic analysis: Image 10
  • 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

What's included

This report contains:

  • Document

    Egypt Western Desert.zip

    ZIP 4.86 MB

  • Document

    Egypt Western Desert exploration basin

    PDF 1.39 MB

  • Document

    Egypt Western Desert exploration basin

    ZIP 6.03 MB

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