Insight

Nigeria 2019 licence renewals: 18 billion boe at stake

Get this report

$1,350

You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.
 

- Available as part of a subscription
- FAQ's about online orders

13 February 2018

Nigeria 2019 licence renewals: 18 billion boe at stake

Report summary

Thirty oil mining leases (OMLs) located onshore Nigeria are due to expire in June 2019. This includes 17 Shell JV licences. OML holders are entitled to a 20-year renewal but will have to pay a fee under special terms and conditions set by the Minister of Petroleum Resources. Although this sounds straightforward, some previous IOC renewals took over five years to complete. Therefore, protracted negotiations that last well beyond licence expiry are likely to bring operators and lenders out in a cold sweat. No one likes to risk multi-million dollar investments on acreage in legal limbo. With 18 billion boe, or a third of Nigeria's remaining reserves at stake, these renewals are vital for future investment. We assess the renewal process, the potential impact on value, and explain why the 2019 presidential election will affect the outcome.

Table of contents

  • Overview

Tables and charts

No table or charts specified

What's included

This report contains:

  • Document

    Nigeria 2019 licence renewals.pdf (2)

    PDF 1.10 MB

Other reports you may be interested in

Browse reports by Industry Sector