Asset Report

Uganda Albert Edward Rift exploration basin

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12 April 2016

Uganda Albert Edward Rift exploration basin

Report summary

Located in western Uganda, the Albert–Edward Rift basin is the first East African Rift system to have provided significant onshore oil finds and has spurred exploration in similar nearby basins, notably in Kenya. The basin first attracted international attention in 2006 when the play-making Kingfisher oil field was discovered. Since then, a total of 1.6 billion barrels of recoverable oil has been found, the majority of which is commercially viable to develop. However, the development of existing and future discoveries depends on the construction of a major export pipeline, across difficult terrain with poor existing infrastructure. The project, which will either consist of a standalone pipeline through Tanzania or a shared pipeline connecting the Ugandan fields with discoveries in Kenya, is expected to be commissioned in 2022. Explorers can expect to achieve healthy returns if oil prices recover, but a sustained period of low prices would threaten value creation from future finds.

Table of contents

  • Key facts
    • Key issues include:
  • Location maps
  • Participation
    • Key well operators (TYP period)
  • 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
      • Pliocene
      • Miocene
    • Prospect breakeven price
      • Pliocene
      • Miocene
    • Expected monetary value (EMV)
    • Play economics
    • Full-cycle basin economics
    • Implied acreage value

Tables and charts

This report includes 61 images and tables including:

  • Play level data
  • Assumptions
  • Value creation versus investment (TYP period)
  • Value creation versus investment (outlook period)
  • Exploration history map
  • Exploration wells by play
  • Licensed exploration acreage
  • Expiry forecast of current licences
  • Key licence holders
  • Key play characteristics
  • Recent discovery costs
  • Summary of discovery and development costs
  • Exploration and appraisal spend
  • Exploration spend per well and average well depth
  • Summary and key issues: Image 3
  • Key companies: Table 2
  • Gross exploration wells completed by operator
  • Net exploration wells completed by participant
  • Company success rates and discoveries
  • Drilling activity by well type
  • Cumulative exploration wells by play
  • Discoveries and success rates
  • Discoveries by license 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)
  • Development: Table 1
  • Pliocene
  • Typical fiscal terms
  • Brent and local oil price assumptions
  • Value creation, exploration spend and volume discovered
  • Returns by drilling year
  • Breakeven price versus prospect size
  • Value creation versus investment
  • Pliocene
  • Miocene
  • Pliocene
  • Miocene
  • Full-cycle economic analysis
  • Average value of future discoveries and implied acreage value
  • Miocene
  • Reserves and resources: Table 4
  • Pliocene
  • Reserves and resources: Table 5
  • Miocene
  • Pliocene
  • Miocene
  • Pliocene
  • 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

What's included

This report contains:

  • Document

    Uganda Albert - Edward Rift.zip

    ZIP 3.62 MB

  • Document

    Uganda Albert Edward Rift exploration basin

    PDF 758.53 KB

  • Document

    Uganda Albert Edward Rift exploration basin

    ZIP 4.23 MB

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