Country Report
Nigeria upstream summary
Report summary
Nigeria is the largest oil producer in Africa. Production comes from the Niger Delta: 75,000 square kilometres of onshore swamp and shallow water, leading to a deepwater frontier up to 200 kilometres offshore. Nigeria produces high quality sweet crude, from the prolific Tertiary, Agbada Formation. Reservoirs tend to be small, with hundreds of small deposits throughout the delta. Based on remaining reserves, the Niger Delta is approximately half-way through its life. However, Nigeria has ...
Table of contents
- Executive summary
- Key facts
- Location maps
-
Key companies
- The Majors
- Indigenous companies
- M&A
-
Geology
- Introduction
-
Niger Delta Basin
- Stratigraphy
- Source rocks
- Reservoir rocks
- Trapping mechanism
-
Keta-Togo-Benin basin
- Reservoirs, traps and seals
- Source rocks
-
Benue Trough basin
- Anambra sub-basin
- Bida sub-basin
- East Niger Rift basin
- Illumeden basin
-
Exploration
-
Licensing
- Early exploration
- 1990s
- 2000 licence round
- 2005 licence round
- 2006 licence round
- 2007 licence round
- 2020 Marginal Field Bid Round
-
Drilling
- Drilling activity
- Historical exploration
- Success rates
-
Licensing
- Reserves and resources
-
Production
-
Oil/Liquids
- Production outlook
-
Gas
- Flaring
-
Oil/Liquids
-
Infrastructure
- Oil infrastructure
- Terminals
- Oil products
- Gas infrastructure
-
Costs
-
Introduction
- Historical NNPC funding constraints
- New NNPC funding model
-
Capital costs
- Capital expenditure by location
-
Operating costs
- Operating expenditure by location
-
Introduction
-
Policy and regulation
-
Key legislation
- Amendment to the Deep Offshore and Inland Basin PSC Act
- Industry reform process
- Regulatory body
-
State oil company
- NNPC re-structuring
- State participation
-
Licensing
- Oil Exploration Licence (OEL)
- Oil Prospecting Licence (OPL)
- Oil Mining Licence (OML)
-
Key legislation
-
Fiscal terms
- Overview
-
Upstream
- Concessions
- Production Sharing Contracts
- Indigenous Sole Risk Contracts
- Service Contracts
-
Mid/Downstream
- Pipelines
- Gas Utilisation
- Current fiscal terms
-
Joint Venture Concessions
- State equity participation
- Carry & Reimbursement
- Signature bonuses
- Production bonuses
- Area rentals
- Training fees
- Indirect taxes
- Royalty
- Marginal field royalties
- Export duty
- Environmental / CO2 taxes
- Domestic Market Obligation (DMO)
- Contractor revenue entitlement
- Liquids Pricing
- Gas Pricing
- Corporate (or Petroleum) Income Tax
- Taxable Income
- Investment Uplift/Credit
- Gas
- Fiscal/Contractual Consolidation
- Dividend Withholding Tax
- Other Taxes
- Pioneer status
-
Production Sharing Contracts (1993)
- State equity participation
- Signature bonuses
- Production bonuses
- Area rentals
- Training fees
- Other bonuses & fees
- Indirect taxes
- Royalty
- Increase in deepwater royalties
- Export duty
- Environmental / CO2 taxes
- Domestic Market Obligation (DMO)
- Contractor revenue entitlement
- Liquids Pricing
- Natural Gas Pricing
- PSC cost recovery
- PSC profit sharing
- Corporate (or Petroleum) Income Tax
- Fiscal/Contractual Consolidation
- Dividend Withholding Tax
- Other Taxes
-
Production Sharing Contracts (2005, 2006 & 2007 bid rounds)
- State equity participation
- Signature bonuses
- Production Bonuses
- Area rentals
- Training fees
- Other bonuses & fees
- Indirect taxes
- Royalty
- Export duty
- Environmental/CO2 taxes
- Domestic Market Obligation (DMO)
- Contractor revenue entitlement
- Liquids Pricing
- Natural Gas Pricing
- PSC cost recovery
- Cost carry forward
- PSC profit sharing
- Taxable Income
- Corporate (or Petroleum) Income Tax
- Fiscal/Contractual Consolidation
- Dividend Withholding Tax
- Other Taxes
Tables and charts
This report includes 49 images and tables including:
- Key facts: Table 1
- Country Map
- Reserves and resources: Table 1
- Reserves and resources: Table 2
- Reserves and resources: Table 3
- Reserves and resources: Table 4
- Liquids and Gas Production 2020
- Reserves and contingent resources at 01/01/2020
- Net Acreage 2020
- Map of Nigerian Petroleum Basins
- Offshore Niger Delta
- Oil Infrastructure Map
- Infrastructure: Table 1
- Gas Infrastructure Map
- Stratigraphic Column of the Niger Delta Basin
- Exploration: Table 1
- Exploration: Table 2
- Exploration: Table 3
- Exploration: Table 4
- Drilling Activity by Well Type
- Drilling Activity and Commercial Success Rates
- Production: Table 1
- Production: Table 2
- Production: Table 3
- Production: Table 4
- Liquids Production by Type
- Liquids Production by Location
- Production: Table 5
- Production: Table 6
- Sales Gas Production by Region
- Costs: Table 1
- Costs: Table 2
- Costs: Table 3
- Costs: Table 4
- Fiscal terms: Table 1
- Fiscal terms: Table 2
- Fiscal terms: Table 3
- Fiscal terms: Table 4
- Fiscal terms: Table 5
- Fiscal terms: Table 6
- Fiscal terms: Table 7
- Fiscal terms: Table 8
- Fiscal terms: Table 9
- Fiscal terms: Table 10
- Fiscal terms: Table 11
- Fiscal terms: Table 12
- Fiscal terms: Table 13
- Fiscal terms: Table 14
- Fiscal terms: Table 15
What's included
This report contains:
Other reports you may be interested in
05 November 2020
Nigeria upstream summary slides
Country Report
Nigeria upstream summary slides
To complement our more detailed Nigeria upstream summary we provide a slide-pack of the key issues in Nigeria.
$4,75028 August 2020
Nigeria LNG (NLNG) - NLNG Upstream Supply
Asset Report
Nigeria LNG (NLNG) - NLNG Upstream Supply
The reserves shown in the table above reflect upstream supply volumes that are currently modelled. In our LNG supply forecast we expect ...
$2,25007 May 2020
Nigeria upstream fiscal summary
Country Report
Nigeria upstream fiscal summary
Detailed analysis of the fiscal system applicable to new licences.
$1,650
