Niger Delta

Commentary

The government appears to be making significant headway in unlocking the regulatory morass that has hampered progress to date. Consequently, we have a Positive Outlook.

Updated

August 23, 2023

Location

Description

The NBD has been shown to be a prolific hydrocarbon province, and is one of a number of West African basins collectively known as the West African Margin Basins, which were created by the growth of the mid-Atlantic Ridge. This is the key tectonic event which precipitated the separation of the African and American plates and contemporaneously formed the mirror basins on the western side of the Atlantic Ocean currently being developed in the Santos Basin which is located offshore Brazil.

Summary

Despite extensive exploration the Basin continues to yield significant new volumes annually, and is outside of the Middle East, is one of the key hydrocarbon basins.