PETROLEUM INDUSTRY REFORM IN NIGERIA: SIMULATION ...

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Reform Legislation in Nigeria ‣Describes the legislative, tax, contractual and fiscal elements under which petroleum operations are conducted in a petroleum province, region on nation. ‣Defines the relationship between federal government of Nigeria and the oil and gas companies (IOC, NOC, & DOC). ‣Explains how costs are to be recovered and profits are to be shared between firms, the host governments, and the host communities OOILEDARE USAEE 2010, Calgary, Canada 4
Broad Objectives of the Reform • Provides petroleum industry operational strategies and guidelines. • Proffers solutions to petroleum fiscal problems and community issues affecting oil and gas operations in the upstream, midstream, and downstream sectors of the Nigerian petroleum economy. • Aligns the oil and gas industry in Nigeria with international best practices in order to facilitate good governance and transparency in the industry. • Assigns separate functional responsibilities to institutional structures in order to manage the commercial and operational aspects of the oil and gas sector as well as the policy‐making and regulatory aspects effectively. OOILEDARE 5 OOILEDARE USAEE 2010, Calgary, Canada
Page 1 and 2: PETROLEUM INDUSTRY REFORM IN NIGERI
Page 3: Petroleum Industry in Nigeria • N
Page 7 and 8: Fiscal System Instruments Nigeria S
Page 9 and 10: Proposed Fiscal Instruments for Nig
Page 11 and 12: Proposed Example Fiscal of Instrume
Page 13 and 14: Modeling Deepwater Economics —DCF
Page 15 and 16: Production Sharing Contract Model D
Page 17 and 18: Incremental Deepwater Project: 100
Page 19 and 20: Sensitivity of Nominal IRR vs. HGT
Page 21 and 22: Sensitivity of Nominal IRR vs. HGT
Page 23 and 24: Internal Rate of Return: Fifty Perc
Page 25 and 26: Conclusions • Ongoing petroleum i

PETROLEUM INDUSTRY REFORM IN NIGERIA: SIMULATION ...

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