DEEPWATER PETROLEUM EXPLORATION AND PRODUCTION IN THE GULF OF GUINEA: Comparative Analysis of Petroleum Fiscal Systems Performance

📄 Project Abstract

Petroleum Fiscal System (PFS) is a major determinant of investment decision in the exploration and production of oil and gas in any country. It basically describes the profitability relationship between the host government of the producing community and the International Oil Companies (IOCs). The comparative analysis of the performance of the fiscal regimes becomes imperative as it affects the interest of the investor and the production of oil and gas. During the formulation of any fiscal regime a premium is placed on its outcome. In this study, Petroleum Fiscal System (PFS) deepwater economic model is developed for the Gulf of Guinea. The approach incorporates a dynamic multipurpose input data page that automatically considers fiscal laws, taxation and stochastic analysis. Monte Carlo simulation using @risk software is used to account for risk and uncertainties in decision making. This study addresses the industry structure, conduct and performance of fiscal regimes of countries in th...