Global energy major Kosmos Energy announced that the company is seeking an equitable partnership structure for the Yakaar-Teranga natural gas project at the MSGBC Oil, Gas & Power 2023 conference this week. Having recently taken over the operation of bp’s shares and during a round table entitled “Balance: hydrocarbons and energy transition”, the company declared that it was committed to working with Mauritania to unlock all the benefits of the project for the local economy.
The announcement was made by Khady Ndiaye, Vice President and Country Director of Senegal at Kosmos Energy, who said: “For Yakaar-Teranga, we envision a partnership where all partners participate equally in the project, with Petrosen being the partner with the greatest participation. The idea is to promote the new part of the partnership where the National Petroleum Company (SNP) can highlight its capabilities and develop new skills.”
The roundtable discussed how the monetization of oil and gas resources plays a central role in strengthening the region’s capacity to transition to a cleaner energy future. Speakers highlighted the region’s desire to industrialize and develop, promoting the various ongoing projects that promise new opportunities for universal access and economic growth.
For Gambia, a largely under-exploited market, Cany Jobe, director of exploration and production at the Gambian National Petroleum Corporation, explained that they are “doing everything we can, both above and below of the ground, to make exploration more efficient in The Gambia. We have adjusted our tax terms to implement a progressive royalty. We have also returned to a direct negotiation strategy and hope that this will encourage investors and partners to come to the table.”
Likewise, Guinea-Conakry has put in place measures to attract investments. The country created the National Petroleum Company (SONAP) in 2021 and is seeking partners to carry out explorations. “The transitional government aims to develop all natural resources, leading to the creation of SONAP. We have acquired 2D and 3D data technologies. With these advances and investments, we could perhaps catch up ( in exploration) in two to three years,” said Dr. Mohamed Bangoura, national director of hydrocarbons, Ministry of Energy, Hydraulics and Hydrocarbons, Guinea-Conakry.
Following the discovery of major oil and gas deposits in the waters of the MSGBC region, countries such as Mauritania and Senegal have launched major projects with the aim of developing and monetizing the resources. The 2.3 million tonne per annum Greater Tortue Ahemyim project and the 100,000 barrel per day Sangomar oil field development are ready for first production in 2024, with a robust suite of other projects gradually progressing. One of the most anticipated is the development of BirAllah in Mauritania, which targets gas for domestic use.
Moustapha Bechir, director general of hydrocarbons at Mauritania’s Ministry of Oil, Mines and Energy, explained that the country “is preparing for the final investment decision (for BirAllah) and plans to produce gas by 2030.” He added that the ministry is working with the joint venture partners on “how we can achieve this goal and design the project for the domestic market and national needs, and ensure that we can make this project a competitor in the current market. “
As the region prepares for an abundant supply of domestic oil and gas, climate change is of growing concern to countries in the region, highlighting the need to implement low-carbon solutions. As a result, the focus has shifted to decarbonization as first production approaches. Countries in the region are adopting strategies to facilitate a transition while prioritizing the needs of the population.
Papa Samba Ba, Director of Hydrocarbons, Ministry of Oil and Energy, Senegal, said that “our country has developed a balanced transition strategy, exploiting extractive resources, complemented by an increase in our renewable resources. This allows us to meet various challenges and to be at the forefront of these issues.”
Taking place in the capital of the Islamic Republic of Mauritania, Nouakchott, on November 21-22, the MSGBC 2023 conference and exhibition serves as the only event dedicated to energy development in the MSGBC region. The event takes place under the theme “Scaling Energy Opportunities in Africa’s New Frontier” and is organized under the patronage of HE Mohamed Ould Cheik Ghazouani, President of the Islamic Republic of Mauritania, and in partnership with the Ministry of Oil, Mines and Energy ; the Mauritanian Hydrocarbons Company (SMH); Petrosen; COS Petrogaz; and the African Energy Chamber
