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Finding Oil and Gas in Sub Saharan Africa

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Tuesday, September 19, 2017

Video Presentation


Finding Oil and Gas along the Atlantic Seaboard of West Africa north of the Equator

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Paul Dailly
Kosmos Energy


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Talk Description
Historically, in West Africa, upstream E ad P has been dominated by the Tertiary hydrocarbon provinces of the Niger and Congo deltas on/offshore Nigeria and Angola / Congo, together with the intervening onshore / shallow water Cretaceous plays of the West Africa Salt Basin. These provinces were for many years, and indeed still are to some extent, the preserve of the majors, super - majors and NOC's, for reasons initially related to colonial heritage and G2G relationships post - independence, and subsequently, with the advent of deepwater, due to their strong financial and operational capability.

For decades, however, from the 1970's through to the 1990's, significant exploration drilling, initially by the large IOC's, and later by the independents who had limited access to the proven, established hydrocarbon provinces, was undertaken in an attempt to open frontier / emerging basins along the Atlantic seaboard of West Africa north of the equator. Evidence of working petroleum systems was widespread, and technical success was common. Nevertheless, no new, commercially - significant oil and gas basins were unlocked.

Since the late 1990's, many companies drilled numerous dry holes and made sub - commercial discoveries, destroying significant shareholder value, damaging corporate reputations, and losing their license to explore, often in failed attempts to replicate the success of others. In the meantime, Kosmos and its predecessor company, Triton Energy, have been instrumental in delivering serial exploration success across this geography over last twenty years, playing a key role in opening each of the three, new deepwater Cretaceous basins unlocked in the region, including the Rio Muni, Tano and MSGBC basins offshore Equatorial Guinea, Ghana and Mauritania / Senegal respectively, and discovering more than 2BBO and over 50TCF in the process.

The drivers of this serial track record of exploration success, including the creative thinking and contrarian ideas and concepts, as well as the counter - cyclical strategies and initiatives will be discussed, together with the new exploration themes and opportunities which may unlock the significant remaining hydrocarbon potential and lead to further commercial oil and gas finds in the future.

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