ABSTRACT
The Niger Delta is Nigeria’s and Africa’s most prolific producing basin and has some untapped oil resources because of their marginality. The development of marginal oil field in Nigeria has now become an important strategic issue. This is due to the vast availability of these fields scattered all over the Niger Delta. The Federal Government of Nigeria in a bid to kick-off indigenous participation in the upstream sector of the petroleum industry initiated the marginal field program. This was also to increase Nigeria’s crude oil production. Years after awards of marginal fields, only a few of the awardees have been able to see first oil production. This is due to various challenges that marginal field investors have faced over the years and these challenges were not properly planned for. An important aspect of any field development planning exercise is inherent in adequately quantifying risks and uncertainty, particularly when information availability is limited.
In this work, a risk management process was employed to quantify risk and uncertainty in developing marginal fields. This involved planning, identification, analysing, assessing, treating and monitoring these risks. A total of 15 risk factors were identified and these risks were screened to high loss risks in terms of NPV. These risks were lumped up to seven variables which were used as independent variables for Monte Carlo simulation used to carry out sensitivities on the investor’s NPV. Petroleum Profit Tax, Reserves, Oil Prices and rate of decline were identified as top risk factors on investor’s NPV. Fiscal terms, reserves, oil price, well production performance, reservoir performance and well integrity risk factors were discovered as the highest ranked risks in developing marginal oil fields. A set of guidelines was the formulated to support decision makers and improve the probability of success in developing marginal fields in the Niger Delta.
ABSTRACT: The Role of Emotional Intelligence in Vocational Skill Development is a critical factor in enhancing students' overall competenc...
ABSTRACT
With the global trend towards an increasing aging population, there is a corresponding increas...
ABSTRACT
Sociolinguistic has become a recognized part of most courses on language study from the point...
ABSTRACT
The aim of this research study is to analyze and ascertain the extent to which fraud and poor management contributed to bank fai...
ABSTRACT
This study investigates the place of social media in the practice of public relations in Delta State University Abraka. The adve...
Abstract
This study was carried out on small scale fisheries in Nigeria. In the past three and a half a century since f...
ABSTRACT
The abstract of the project is now the online help desk information system has eased the general public who wish to make there e...
ABSTRACT
This study was carried out to examine parental involvement on students academic activities in...
ABSTRACT
This study investigated the perceptions of stakeholders on provision and management of resources in Senior Secondary Schools in...
ABSTRACT
Tuberculosis is a chronic infection that still remains one of the major health problems in most developing countries. Poor treat...