Skip to content
NipeX, Nigerian Petroleum Exchange
Sign in
  • Nigeria Oil & Gas Cost Index — NOGCI146.30+6.0%
  • Drilling Cost Index — DCI145.20+8.4%
  • Marine Services Index — MSI132.80+8.9%
  • Nigeria Inflation Index — NII221.40+17.8%
  • Steel Price Index — SPI137.10+8.8%

Cost intelligence · Nigerian upstream

Pre-release · Vol. 01

Nigeria’s oil & gas cost benchmark.

A single normalized reference for contract cost across the basin: maintained quarterly, versioned, and traceable to the basis every figure was computed on.

Sign inRequest access

Index series · 2020–2026 · rebased 2020 = 100

Illustrative — MVP
230196163129952020202120222023202420252026

Built for the institutions that set the terms.

  • Operators
  • Regulators
  • Suppliers
  • NipeX administrators

/01

The problem

Cost decisions are made without a common reference.

Nigeria's upstream spends at scale, but the price of work is negotiated in isolation. Three structural gaps follow.

  1. 01

    Prices live in silos

    Rates sit inside individual contracts, spreadsheets and closed negotiations. No party can see the distribution they are pricing against.

  2. 02

    History is not comparable

    A 2019 day rate and a 2026 day rate are different numbers for the same work. Without a stated basis, comparison is guesswork.

  3. 03

    Nobody can audit the number

    When an estimate is challenged, there is no shared, versioned source to appeal to, only the confidence of whoever built it.

Methodology

Every historical rate is normalized before it is compared.

A 2019 day rate and a 2026 day rate are different numbers for the same scope of work. NipeX-IndeX restates every historical rate onto the target period using the applicable index, and shows the adjustment rather than burying it.

  • Source period and target period are both recorded on the figure, not just the result.

  • The index used is explicit. A rate normalized on DCI is never silently mixed with one normalized on NOGCI.

  • Index revisions are versioned, so a figure published last quarter can still be reproduced exactly.

Normalization

Illustrative

Formula

Normalized rate = Original rate
× (Indextarget ÷ Indexsource)

Worked example

Original rate (2019)
$1,700.00
Index basis
NOGCI
NOGCI at source (2019)
108.40
NOGCI at target (2026)
142.60
Normalization factor
1.316×
→ 2026 Q1$2,236.90

/03

The platform

Five modules on one data spine.

Contracts are ingested once. Lookups, estimates, trending and the dictionary all read the same normalized store, so no two answers disagree.

  • 01

    Contract Repository

    Every contract, document and line item in one indexed store, with scope, terrain and phase captured on ingest.

  • 02

    Benchmark Lookup

    Search a scope of work and see the distribution of rates actually paid, normalized to the period you care about.

  • 03

    Cost Estimates

    Build an estimate line by line, from history, manual entry or AI recommendation, then validate against benchmark.

  • 04

    Price Dictionary

    The full line-item catalogue across all contracts, filterable by category, unit of measure and terrain.

  • 05

    Cost Trending

    Track the indices over time and normalize any historical rate onto a target period.

NipeX AI, ask the repository directly

A conversational layer over the same normalized data. Ask for a rate, a comparable, or a variance explanation and get an answer with its sources attached.

Included

/04

Sequence

From signed contract to defensible number.

  1. Step 01

    Ingest

    Contracts and their documents are loaded, parsed and broken down into line items with scope metadata attached.

  2. Step 02

    Normalize

    Each historical rate is restated onto a common period using the applicable index, with the basis recorded.

  3. Step 03

    Benchmark

    Comparable scopes are grouped so a rate reads against the distribution rather than a single precedent.

  4. Step 04

    Decide

    Estimates are validated against that distribution, and variance outside tolerance is flagged before approval.

/05 · Scope coverage

The work being priced.

From deepwater drilling to onshore fabrication, every category carries its own index and its own comparable set.

  • An offshore production platform burning a gas flare against dark open water at dusk
    DCI

    Drilling & well services

    Rig day rates, directional drilling, cementing and evaluation.

  • An offshore support vessel seen straight down from the air on deep green water
    MSI

    Subsea, marine & logistics

    Vessels, ROV spreads, pipelay and mobilisation scope.

  • A welder joining heavy steel section, sparks arcing across the frame
    SPI

    Fabrication & engineering

    Structures, modules, FEED and onshore construction.

/06

Governance

Commercially sensitive data, handled accordingly.

Contract cost is among the most sensitive data an operator holds. Access is scoped, every read and write is recorded, and the basis of every published figure is retained.

  • Role-scoped access

    What a user can see is bounded by their organization and role: operator, regulator, supplier or administrator.

  • Full audit trail

    Every read, edit and approval is recorded against a named user with a timestamp.

  • Versioned indices

    Published index values are immutable. Revisions create a new version rather than overwriting history.

  • Retained basis

    Each figure keeps the index, period and factor it was computed with, so it can be reproduced on demand.

Access

Sign in to NipeX‑IndeX.

Registered operators, regulators and NipeX stakeholders can sign in with their issued credentials.

Sign inRequest access

Not yet registered? Contact the NipeX-IndeX administrator at your organization.