By CharnÃ© Hundermark
As one of the main emerging markets for natural gas production in Africa, the Senegalese government has taken a proactive approach to ensure an attractive and favorable environment for investors, promoting the diversification and expansion of energy and generating significant levels of investment in the sector. Due to demonstrated political will, Senegal has experienced accelerated progress in recent years across the entire energy sector value chain, with investment agreements, completion projects and sales. and acquisitions of assets constantly developing the petroleum and natural gas industries. The growth and development of the sector can be attributed to the role of international oil companies (CIO) have played out so far, but it is the efforts of the state and its entities that have been and will continue to be the driving force behind the country’s success.
At the forefront of the industry is the Ministry of Petroleum, headed by HE Minister Aissatou Sophie Gladima. With a mandate to sustainably exploit the country’s significant resources – estimated at 450 billion cubic feet of natural gas and more than one billion barrels of oil reserves – in a way that benefits the Senegalese people and the country. economy in general, the Ministry has made considerable efforts to improve development. . The ministry has been a pioneer of the natural gas industry in Senegal, encouraging exploration and production and paving the way for CIOs moving forward on projects such as the $ 4.8 billion Greater Tortue Ahmeyim project and the $ 4.6 billion Sangomar project. HE Minister Gladima was instrumental in this and went even further to promote integration and collaboration, highlighting the role that a multi-stakeholder approach has in driving Senegal’s energy future.
As a result, through the joint efforts of organizations such as the national oil company Petrosen and COS-Petrogaz, Senegal is on the path to improved and multisectoral energy success. The ministry is leading and working with these entities to drive progress, and the success of this strategy has been well noted. Petrosen, for example, which has a stake in all of the country’s upstream hydrocarbon business activities, has been a driving force in oil and gas exploration and production. Led by CEOs Mamadou Faye and Joseph Medou, Petrosen is working hard to position Senegal as a regional gas hub. One of the main factors in the success of the organization has been the emphasis on regional cooperation. Senegal’s largest project is on the maritime border between Senegal and Mauritania, and as a result, the ministry and Petrosen have worked closely with its neighbor to spur development. The success of Senegal’s energy sector will therefore be largely attributed to the country’s willingness to collaborate both nationally and regionally.
Meanwhile, as the agency responsible for directing, coordinating and overseeing the development of oil and gas projects in Senegal, COS-Petrogaz, in collaboration with the ministry and Petrosen, has been a key figure in the success and advancement of the country’s energy sector. The organization has played an important role in advancing the country’s position as a gas mega hub, using regional cooperation and market-oriented policies to drive growth. Led by Permanent Secretary Ousmane Ndiaye and Deputy Permanent Secretary Mamadou Fall Kane, COS-Petrogaz facilitates the policies and streamlined processes necessary to drive the transformation of the country’s energy sector.
The Ministry, Petrosen and COS-Petrogaz have, thanks to their joint efforts, been the engines of Senegal’s energy sector. As the country takes steps to increase investment, increase exploration and accelerate project development across the energy sector value chain, these organizations have an important role to play, and they will underline during the next MSGBC Oil, gas and electricity 2021 (https://bit.ly/3Fp7s0w) in Dakar. Taking place on 2-3 October in partnership with the Ministry of Petroleum, COS-Petrogaz and Petrosen, MSGBC Oil, Gas & Power 2021 aims to promote the region’s energy successes, providing valuable insight into lucrative investment opportunities. With introductory presentations expected by HE Minister Gladima, Joseph Medou and Fall Kane, the conference provides a national platform for a constructive dialogue on the regional energy sector, emphasizing regional collaboration, multisectoral integration and enabling regulations. Read more about the conference here (https://bit.ly/2WOaI42).
Distributed by APO Group on behalf of Energy Capital & Power.
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