Development And Incentives For Mature Provinces, Mature Fields, Marginal Fields And Marginal Accumulations: Case Studies On Nigeria, Angola And Brazil

Abstract

This article delves into the lifecycle of oil and gas fields and the associated
economic and regulatory frameworks in these three countries. Initially, it defines
key terms such as mature provinces, fields, and marginal accumulations. The article
presents case studies from Nigeria, Angola, and Brazil, highlighting the specific
legal and fiscal incentives that influence the development and sustainability of these
fields. In Nigeria, the focus is on the historical context and regulatory
developments that shape the classification and management of mature and
marginal fields. Angola's case study examines the impact of new incentives
introduced to revitalize marginal fields and explores the challenges posed by the
lack of legal clarity. The Brazilian context provides insights into how
comprehensive legal frameworks, such as the Petroleum Law, support the
exploration and production of mature and marginal resources. The article
emphasizes the importance of technological innovation, regulatory clarity,
government incentives, scientific research, publications and international
cooperation in optimising production and ensuring sustainable development. It
underscores the need for research-guided continuous adaptation of technical and
legal frameworks to address evolving industry dynamics and environmental
considerations, advocating for a balanced approach that integrates economic,
social, and environmental goals.