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A reality check of Nigeria's upstream sector - Trip Takeaways

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Report summary

In early November 2017, Wood Mackenzie visited Lagos – the headquarters for most oil and gas companies in Nigeria. We had meetings with fifteen companies including IOCs, indigenous operators, service companies and banks. The main issues we came across include funding, lack of development, potential tax changes, gas monetisation, divestment opportunities and licensing. This is a brief overview of those issues.

What's included

This report contains

  • Document

    A reality check of Nigeria's upstream sector - Trip Takeaways

    PDF 292.56 KB

Table of contents

  • Lack of funding
  • Drought in greenfield development
  • NPFP – a policy, not law
  • and a separate bill in the works?
  • Gas monetisation at an impasse
  • Industry braces for divestments and licensing rounds

Tables and charts

This report includes 2 images and tables including:

Images

  • Key offshore projects on the horizon
  • Gas breakeven sensitivity – 500 bcf onshore gas field

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