HOW NIGERIA LOOKED AT FISCAL TERMS, PROSPECTS

11/25/1991
M.A. Ofurhie, M.C. Amaechi, A.O. Idowu Nigerian National Petroleum Corp. Lagos The allocation of funds among investment possibilities must of necessity include evaluation and ranking of alternatives. An essential prerequisite is a geophysical/geological evaluation followed by a reservoir/production analysis resulting in the prediction of recoverable reserves, reservoir performance, optimum method of development, and initial offtake return. An economic model of a typical Niger delta medium cost field with reserves of about 100 million bbl of oil under the royalty/tax system reveals that it is difficult to develop such a fiel...
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