What it is
- Our Africa Upstream Oil & Gas Fiscal Intelligence Report (AFIR) is an important part of our world upstream oil and gas fiscal systems intelligence service. The service is designed to support understanding of the economics and fiscal costs and opportunities in the upstream oil and gas sector around the world.
- AFIR offers a consistent and comparable analysis for both investors and governments. Analysis assumptions with respect to costs, recoverable reserves, and production profiles, are based on publicly available company reports and presentations. Adjustments are incorporated to ensure data consistency and to allow the incorporation of full cycle costs and risks necessary for a balanced view and for the maintenance of sustainable resource development policies.
Why it is Useful
- AFIR adds value for both investors/producers and governments/resource owners. Particularly useful is its scope and coverage under a consistent methodology, thereby offering meaningful comparisons. Producers benefit from a comprehensive analysis of the fiscal cost of doing business in each jurisdiction and resource owners benefit from a thorough review of the fiscal structures that are employed by other jurisdictions as they seek to develop their petroleum resources. Both producers and resource owners benefit from the identification of fiscal instruments and structures that work best to reduce costs and risks, thereby promoting win-win investment conditions and opportunities.
What AFIR Provides
- Full coverage of all Africa jurisdictions, including applicable onshore, shallow water, and deep water operating environments and capturing applicable concession terms, production sharing contracts, and service fee contracts.
- Comparator information placing Africa in global context with respect to oil and gas reserves, production, and consumption, and by-country comparisons identifying a variety of important economic measures including, population, land area, and gross domestic product.
- Cross-jurisdiction fiscal comparisons showing the changing fiscal behavior for a wide range of investment conditions – the fiscal costs, risks, and benefits of doing business by jurisdiction.
- Fiscal Descriptions: One-page thumbnail descriptions of all fiscal systems. Coverage includes sufficient detail to permit comprehensive economic modelling.
- Data: Full data cash flows, costs, prices, production profiles, and other related economics parameters for all modeled fields. Data is presented in searchable Excel format for all modeled fields.
- Methodologies: Detailed descriptions of the economics, fiscal analysis, and fiscal ranking methodologies employed.
- Modeled results tables in searchable Excel format for all fields and modeled fiscal systems.
- Results contain all of the standard measures for assessing: (i) development risk (e.g., EMV, VRI, MSR, and payout), (ii) investment efficiency (e.g., ROR, PIR, NPV/bbl or Mcf, (iii) wealth generation (e.g., NCF, NPV), and (iv) fiscal system health (e.g., government share, effective royalty rate, unit fiscal cost, cost savings index, price maximizing index, marginal NPV10/unit, fiscal progressive indices with respect to field EUR volume, costs, and price, and fiscal system risk measures including the degree of front-end loading.
- Special chapters are devoted to: (a) the analysis of the unburdened base cases and a fiscally neutral reference case to help facilitate comparison, (b) the assessment of state or national oil company participation terms, including carried interest terms and repayment rules and (c) the importance of liquids content for natural gas economics.
Free Content from AFIR
- Report Chapter 1: Introduction & Table of Contents
Report Chapter 2: Africa Economy Indicators and ResourcesAvailable only to subscribing members
- Report Chapter 3: World Fiscal Systems Background & Context
- Report Chapter 4: Economics Methodology & Assumptions
- Report Chapter 5: Fiscal Systems Evaluation Methodology
Report Chapter 6: Economics – Base CasesAvailable only to subscribing members
Report Chapter 7: Natural Gas Liquids EconomicsAvailable only to subscribing members
Report Chapter 8: Oil – Fiscal Systems Results & EvaluationAvailable only to subscribing members
Report Chapter 9: Gas – Fiscal Systems ResultsAvailable only to subscribing members
Report Chapter 10: State Company Participation ImpactsAvailable only to subscribing members
Report Chapter 11: Fiscal Comparisons & Concluding ObservationsAvailable only to subscribing members
- Report Chapter 12: Annex I – Acronyms & Definitions
Report Chapter 13: Annex II – Modeled Costs & Production ProfilesAvailable only to subscribing members
Report Chapter 14: Annex III – Modeled Economics & Fiscal Results by FieldAvailable only to subscribing members
Report Chapter 15: Annex IV – Africa Fiscal Systems DescriptionsAvailable only to subscribing members