Asset Report

Equatorial Guinea Niger Delta exploration basin

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22 May 2019

Equatorial Guinea Niger Delta exploration basin

Report summary

The Niger Delta is a prolific passive margin basin located in the Gulf of Guinea. There are two plays: a Tertiary shelf play and a Tertiary deepwater play. Of the new volumes discovered since 2007, the majority are deepwater gas discoveries from Block R. Former operator Ophir Energy planned to commercialise the gas via a 2.2 mmtpa floating LNG vessel but the licence expired in January 2019. A new licensing round was launched in April 2019 with the aim to attract exploration to urgently replace declining country production. Remaining oil and gas potential exists in both the shelf and deepwater plays but is limited to near-field drilling and prospectivity is considered to be low. The shelf play offers future value creation at all prices but the deepwater play will struggle due to low prospective resource potential, high associated gas content and higher cost deepwater environment.

Table of contents

  • Key play data
  • Wells drilled and success rates
  • Volumes discovered
    • Play creaming curve and key play data
    • Prospective resource costs and underlying development assumptions
  • Licensing
  • Fiscal terms
    • Prospect economics
    • Tertiary Shelf
    • Tertiary deepwater
    • Expected monetary value
  • Full cycle basin economics

Tables and charts

This report includes 31 images and tables including:

  • Assumptions
  • Value creation versus investment (TYP period)
  • Value creation versus investment (outlook)
  • Commerciality index
  • Exploration history map
  • Exploration wells by play
  • Licensed exploration acreage
  • Expiry forecast of current licences
  • Key play characteristics
  • Drilling activity by well type
  • Discoveries and success rate
  • Top discoveries (TYP period)
  • Typical fiscal terms
  • TYP value creation, spend and volume discovered
  • Outlook value creation, spend and prospective resource volume
  • Full cycle economic analysis
  • TertiaryShelf
  • Tertiary Deepwater
  • Tertiary Shelf
  • Tertiary Deepwater
  • Summary of discovery and development costs
  • Exploration and appraisal spend
  • Unit value of potential discoveries
  • Prospect breakeven prices
  • Unit value of potential discoveries
  • Prospect breakeven prices
  • Tertiary shelf
  • Tertiary deepwater

What's included

This report contains:

  • Document

    Equatorial Guinea Niger Delta.zip

    ZIP 3.10 MB

  • Document

    Equatorial Guinea Niger Delta exploration basin

    ZIP 4.27 MB

  • Document

    Equatorial Guinea Niger Delta exploration basin

    ZIP 4.27 MB

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