Energy Capital & Power

Senegal Partners with Nigeria for Oil Sector Development

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In a bid to expand regional cooperation and cross-border trade, Nigeria has committed to supporting Senegal in its quest to develop a robust oil and gas industry. The pledge was made by Nigeria’s Minister of State of Petroleum Resources, H.E. Chief Timipre Sylva, in a recent State visit to Nigeria by H.E. Aissatou Sophie Gladima, Minister of Petroleum, and a delegation from Senegal.

Meeting with the Senegalese delegation in Abuja, Nigeria, H.E. Chief Sylva suggested that with over 60 years-experience in oil and gas exploration and production, and having successfully increased local content from 3% to 43% in the last ten years, Nigeria will be the best partner for Senegal as the country accelerates industry development.

Driven by Senegal’s recent sizeable discoveries – Cairn Energy announced two simultaneous exploration breakthroughs in 2014 and Kosmos Energy revealed two more gas discoveries in 2016 – the country aims to utilize its emerging oil and gas industry as a catalyst for wider socio-economic growth. Partnerships with established oil producers, such as Nigeria, will be critical for the country’s industry development.

According to H.E. Gladima, “with Nigeria’s extensive experience in the petroleum industry, the country was in the best position to assist African countries which have just discovered oil.”

She added that the Senegalese delegation was especially interested in learning about oil and gas asset monitoring and security, the national oil corporation, local content development, and national oil strategy. Nigeria is ready to share these experiences, and is eager to assist Senegal through knowledge-sharing, cooperation, and partnerships.

“This is the best time to incorporate some of the experiences that we have had and that is why it is very important that you came now. I want to assure you that we will work with you,” stated H.E. Chief Sylva.

“We as Africans have to work together in order to chart a way forward. We cannot continue to depend on Europe and the outside world. In fact, it has been proven over and over again that they cannot be responsible for our development. We have to take full responsibility for our development. That’s why we are happy that you are here today,” he continued.

Regional partnerships of this kind are much needed as Senegal, and the wider MSGBC region, have started exploring the great potential of their natural resources. In a bid to expand regional partnerships, drive international investment, and accelerate multi-sector growth across the MSGBC region, Energy Capital & Power will host the first-ever MSGBC Oil, Gas & Power 2021 conference and exhibition in Dakar, Senegal, inviting regional stakeholders and delegations to network with global investors. By providing a platform for deal-making, networking and discourse, MSGBC Oil, Gas & Power 2021 will drive both regional and international partnerships, accelerating energy sector growth across the entire region.

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Jasser Hammami

Jasser Hammami