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Nigeria deepwater PSC re-negotiation: how much is at stake?

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25 September 2015

Nigeria deepwater PSC re-negotiation: how much is at stake?

Report summary

In September 2015, NNPC announced that it intends to review deepwater PSCs, in a move which took some in the industry by surprise. Its primary aim is to increase its fiscal take from producing deepwater fields which have provided lucrative returns for those IOCs who bore the risks of exploration and development in a frontier location. These assets are not yet half way through their life-spans with 3.3 billion barrels of oil still to be produced and US$35 billion of contractor value remaining. The stakes are very high, and so re-negotiation will be difficult and is likely to last years.  We assess which IOCs are most exposed to tougher fiscal terms.

Table of contents

  • Introduction
  • Timing

Tables and charts

This report includes 3 images and tables including:

  • Commercial reserves in the producing 1993 PSCs
  • Value remaining in the producing 1993 PSCs
  • Commercial PSC contractor value by deepwater block

What's included

This report contains:

  • Document

    Nigeria deepwater PSC re-negotiation: how much is at stake?

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