MSGBC: A Hub for Energy, Mining and Infrastructure Investment

investment msgbc

With sizeable offshore oil and gas reserves, abundant solar and wind resources and opportunities in agriculture, mining and infrastructure development, the MSGBC region emerges as an attractive market to invest in. During the MSGBC Oil, Gas & Power 2024 conference – taking place in Dakar from December 3-4 – industry leaders will convene to foster partnerships, sign deals and advance project development across these promising industries.

Senegal

Senegal started oil production at the offshore Sangomar field in June 2024, which targets 230 million barrels of crude oil reserves and is set to transform the country into a major regional producer. Meanwhile, energy supermajor bp and upstream oil company Kosmos Energy are also working in partnership to develop the Greater Tortue Ahmeyim project while Kosmos assumed operatorship of the Yakaar Teranga field in 2023. The projects hold confirmed reserves of 100 trillion cubic feet (tcf) and 25 tcf of gas, respectively.

As such, Senegal has emerged as a strategic oil and gas market given its succession of discoveries over the past decade, transforming the sector into a significant market for investment. In addition to its dozen offshore blocks currently open for tender, opportunities in the country’s oil and gas sector include gas-to-power solutions, 3D seismic surveying and LNG pipeline design and construction. 

Mauritania

Mauritania has emerged as a frontier for green hydrogen development. The country has unveiled ambitious plans for large-scale projects aimed at producing 12.5 million tons of green hydrogen annually by 2035. Mauritania also aims to capture up to 1.5% of the global hydrogen market and up to 1% of the global green steel market by 2050. Last month, transitional energy group Chariot Energy finalized the feasibility study for a 10 GW green hydrogen project in Mauritania – Project Nour. The initial phase of the project aims to establish 3 GW of renewable capacity, generating up to 1.6 GW of electrolysis capacity to yield 150 kilotons of green hydrogen annually.

Other large-scale projects across the country include renewable energy company GreenCo Energy’s 35 GW Megaton Moon project; green hydrogen developer CWP’s 16-20 GW Aman project; and Egyptian energy utility Infinity and Conjuncta’s 10 GW green hydrogen project.

In addition to green hydrogen, Mauritania also boasts a lucrative oil industry, hosting three of the world’s supermajors. The country launched a tender in 2022 to transform the port city of Nouadhibou into a major international oil hub. Once complete, the multipurpose terminal will be able to receive vessels with a maximum draught of 12m to 13.25m and process traffic of around 325,000 containers by 2035.

Guinea-Conakry

Serving as the world’s second-largest producer of bauxite, Guinea-Bissau currently accounts for roughly 25% of global production. Bauxite is produced from eight operational mines in the country, with three major mines – the Kindia, Helalin and Bon Ami bauxite projects – currently in the feasibility stage.

In February, bauxite producer and exporter Société Minière de Boké announced plans to invest up to $1 billion over the next five years to buy transport vessels and upgrade its river terminals. The investment comes as the company expects bauxite exports to increase to by 10 million tons by the end of this year.

The Gambia

Accounting for roughly 70% of the country’s total exports, the re-export sector in The Gambia is a prime driver of its economy. In partnership with financial institutions the European Investment Bank and African Development Bank, The Gambia’s government is exploring opportunities to develop new state-of-the-art port projects, which include expanding the jetty at the port of Banjul, the digitalization of port operations and the construction of new container terminals. Completion of the Banjul port 4th expansion project is planned for the end of 2025.

Guinea-Bissau

Guinea-Bissau offers abundant solar energy opportunities, with investments in on- and off-grid solutions set to accelerate electrification. With a $35 million investment, international finance institution the World Bank is facilitating the construction of 30 MW of solar parks and battery storage systems in the country. The project will be implemented until June 2030 and will support capacity building and knowledge transfer in the industry.

Meanwhile, the Regional Off-Grid Electricity Access project – which aims to increase electricity access through autonomous solar kits – was launched in June 2024 and will provide energy to rural communities across the country.

Ivory Coast

Boosted by recent oil discoveries at the Baleine (2021) and Calao (2024) fields, Ivory Coast is set to triple its oil output by 2027. This shows an increase from 60,000 barrels per day (bpd) in 2024 to approximately 200,000 bpd and will make the country one of the ten largest oil producers in Africa. Up to $15 billion is expected to be invested in the oil industry over the next three years.

Explore opportunities, foster partnerships and stay at the forefront of the MSGBC region’s oil, gas and power sector. Visit www.msgbcoilgasandpower.com to secure your participation at the MSGBC Oil, Gas & Power 2024 conference. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.  

Share This Article

Other Reads

Onur Yilmaz

Onur Yilmaz

X
X