Regional fiscal benchmarking: West Africa offshore

After several years in the doldrums, upstream investment is back, and companies are seeking the best new opportunities. West Africa is receiving a lot of attention: huge, discovered resources in Nigeria and Angola, mature basins with enhanced recovery potential in many countries, and emerging exploration hotspots like Namibia. Monetising gas remains a challenge given low domestic prices but its potential role in the energy transition is driving the desire to find economic pathways. Attractive fiscal and regulatory policies are critical to enabling these inflows of investment. In this report, we compare the current fiscal state of play in West Africa.