Terms of Reference
Financial Capacity
Financial Capacity

The applicant must demonstrate to the ANH that it has the financial capability to regularly and continuously meet its existing obligations as well as those for which it is applying.

Applicants are exempted from providing such evidence if they are in the list of the Top 100 O&G companies in the latest edition of “Ranking the World’s Top Oil Companies” of Petroleum Intelligence Weekly, or if they have a credit rating above BBB from Standard and Poor’s or, Duff and Phelps, or Baa from Moody’s, or other equivalent rating from accredited rating agencies.

Applicants wishing to operate in the blocks designated as Deep Water, but do not meet the above criteria, must demonstrate to the ANH that they have a Market Capitalization of at least US$ 4.0 billion or Shareholder Equity equal or greater than US$ 2.0 Billion. Applicants interested in blocks designated as Transition or Shallow must demonstrate to the ANH that they have a Market Capitalization of at least US$ 2.0 billion or Shareholder equity equal or greater than US$ 1.0 Billion.

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