Nigeria's Niger Delta is a world-class petroleum province where over 93 billion barrels of oil and gas have been discovered in the last six decades. Since 2008, appetite for high-risk exploration declined because of proposed legislation that would increase government share. As a result, drilling levels declined, particularly in deep and ultra-deepwater where significant fiscal/licence term changes could materially impact economics. Onshore, oil theft, vandalism and labour disputes continue to plague operators. Despite significant challenges, the Niger Delta remains the most attractive basin in the region, with significant yet-to-find potential and opportunity for value creation. The greatest value creation will be realised in the deepwater, where YTF volumes are the greatest. We review results from recent exploration and analyse the YTF potential and economics of future exploration activity. All analysis, results and forecast metrics are available to download in pdf and excel format.
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.
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Asset report | Jul 2017
Nigeria Niger Delta exploration basin
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