Asset Report

Nigeria-Sao Tome JDZ Niger Delta exploration basin

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31 March 2019

Nigeria-Sao Tome JDZ Niger Delta exploration basin

Report summary

The Nigeria-São Tomé Joint Development Zone (JDZ) is claimed by both Nigeria and São Tomé e Príncipe. The two countries agreed in 2001 to enable oil exploration and jointly develop resources within the JDZ. This includes acreage on the southern fringe of the prolific Niger Delta basin in ultra-deep waters. The first well, in 2006, discovered the Obo field; whilst this is close to producing fields across the Nigerian maritime border, appraisal drilling has been disappointing and the field is classified as sub-commercial. Although drilling success rates in the basin have been high, discovered volumes have not met with early expectations, being gassy and smaller than anticipated. However, just seven wells have been drilled to date, and large areas of the basin remain unexplored. Nevertheless, results to date, combined with the current low oil price environment, potentially high development costs and challenging fiscal terms are likely to limit exploration in the immediate future.

Table of contents

  • Key issues include:
  • Wells drilled and success rates
  • Volumes discovered
    • Play creaming curve and key play data
    • Tertiary Deepwater
  • Prospective resource costs and underlying development assumptions
  • Licensing
    • Prospect economics - Tertiary Deepwater
  • Full-cycle basin economics

Tables and charts

This report includes 20 images and tables including:

  • Commerciality index
  • 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)
  • Tertiary Deepwater
  • Exploration and appraisal spend
  • Typical fiscal terms
  • TYP value creation, spend and volume discovered
  • Outlook value creation, spend and YTF volume
  • Full-cycle economic analysis
  • Unit value of potential discoveries
  • Prospect breakeven prices
  • Expected monetary value

What's included

This report contains:

  • Document

    Nigeria-Sao Tome JDZ_Niger

    ZIP 2.17 MB

  • Document

    Nigeria-Sao Tome JDZ Niger Delta exploration basin

    PDF 1.22 MB

  • Document

    Nigeria-Sao Tome JDZ Niger Delta exploration basin

    ZIP 3.00 MB