Asset Report

Nigeria Niger Delta exploration basin

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19 June 2019

Nigeria Niger Delta exploration basin

Report summary

Nigeria's Niger Delta is a world-class petroleum province where over 93 billion barrels of oil and gas have been discovered over the last six decades. Since 2009, appetite for high-risk exploration has waned because of proposed legislation that would increase government share. As a result, drilling levels declined, particularly in deep and ultra-deepwater where significant fiscal and/or licence term changes could have a material impact on economics. Onshore, oil theft, vandalism and labour disputes continue to plague operators.

Table of contents

  • Key issues:
  • Wells drilled
  • Basin success rates
  • Volumes discovered
  • Prospective resource potential
    • Creaming curve and key play data
    • Tertiary Onshore
    • Tertiary Shelf
    • Tertiary Deepwater
    • Tertiary Ultra-Deepwater
  • Model field pool size distribution
  • Existing discoveries and modelled prospective resource size distribution
  • Prospective resource costs and underlying development assumptions
  • Licensing
  • Petroleum Industry Bill and reform
  • Fiscal terms
    • Tertiary Onshore play
    • All offshore plays
  • TYP economics
    • Tertiary Onshore
    • Tertiary Shelf
    • Tertiary Deepwater
    • Tertiary Ultra-Deepwater
    • Prospect breakeven price
    • Tertiary Onshore
    • Tertiary Shelf
    • Tertiary Deepwater
    • Tertiary Ultra-Deepwater
    • Expected monetary value (EMV)
    • Play economics
    • Implied acreage value

Tables and charts

This report includes 82 images and tables including:

  • Commerciality index
  • 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
  • Reservoir 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 (outlook)
  • Tertiary Onshore
  • Tertiary Shelf
  • Tertiary Deepwater
  • Tertiary Ultra-Deepwater
  • Tertiary Onshore
  • Tertiary Shelf
  • Tertiary Deepwater
  • Tertiary Ultra-Deepwater
  • Tertiary Onshore
  • Tertiary Shelf
  • Tertiary Deepwater
  • Tertiary Ultra-Deepwater
  • Recent discovery costs
  • Summary of discovery and development costs
  • Exploration and appraisal spend
  • Exploration spend per well and average well depth
  • Value creation, spend and volume discovered
  • Returns by drilling year
  • Breakeven price versus prospect size
  • Value creation versus investment
  • Full cycle economic analysis
  • Brent and local oil price assumptions
  • Henry Hub and local gas price assumptions
  • Brent and local oil price asumptions
  • Henry Hub and local gas price assumptions
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Value of potential discoveries
  • Unit value of potential discoveries
  • 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
  • Breakeven price of exploration
  • Discount rate breakeven price sensitivities
  • Breakeven price of exploration
  • Discount rate breakeven price sensitivities
  • Tertiary Onshore
  • Tertiary Shelf
  • Tertiary Deepwater
  • Tertiary Ultra-deepwater
  • Tertiary Onshore
  • Tertiary Shelf
  • Tertiary Deepwater
  • Tertiary Ultra-deepwater
  • Average value of future discoveries and implied acreage value

What's included

This report contains:

  • Document

    Nigeria_Niger Delta.zip

    ZIP 5.04 MB

  • Document

    Nigeria Niger Delta exploration basin

    PDF 2.32 MB

  • Document

    Nigeria Niger Delta exploration basin

    ZIP 6.27 MB

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