Mauritania is making great strides to attract foreign investment across its untapped upstream market, introducing a 15-block offshore licensing round; strengthening geological surveying and data acquisition; while promoting collaboration between Mauritanian and global partners.
The country’s upstream prospects will be further explored during the MSGBC Oil, Gas & Power 2023 conference and exhibition, scheduled for November 21-22 this year.
In an exclusive panel session titled, ‘Focus on Mauritania: Road Show on Exploration & Opportunities’, a suite of Mauritanian policymakers, global E&P investors and regional stakeholders will engage in pivotal discussions and strategic planning on Mauritania’s upstream sector. For potential players looking at tapping into one of the world’s final frontiers for offshore exploration, the Mauritanian exploration roadshow is a not-to-be-missed event.
The Mauritanian Coastal Basin, an area with an extensive 2D and 3D seismic data coverage – covering more than 100,000 km, respectively – has become a focal point for exploration in recent years. The discovery of the Chinguetti oilfield in 2001 marked the opening of the tertiary petroleum system in the basin, while the 2015 GTA gas discovery in Block C8 unveiled deeper Cretaceous petroleum systems. These breakthroughs, coupled with growing global demand for oil and gas, emphasize the country’s evolving energy potential and growing prominence, and the Mauritanian roadshow will provide insight into the country’s unique offshore geological features.
The exploration session will serve as a bridge connecting government decision-makers, data experts, and industry players, providing a unique platform to exchange insights, share vital information, and outline the future trajectory of energy exploration and development in Mauritania. The panel of experts will delve into a series of essential topics that collectively form a holistic view of Mauritania’s exploration perspectives.
Serving to connect investors with Mauritanian opportunities, the session will provide an overview of Mauritania’s business environment and investor safeguards, showcasing the country’s commitment to creating a secure investment climate. The legal investment framework and the benefits and exemptions in promotional zones will be highlighted, emphasizing how these incentives can foster business growth. Correspondingly, details of the country’s latest bid licensing round, which features 15 offshore blocks, will be provided, connecting new players to the country’s promising yet untapped acreage.
Under efforts to promote exploration and production, the Mauritanian Government revised the legal and regulatory framework, implementing tax rules and exemptions to entice foreign and regional players. Through the Petroleum Code – introduced in 1998 and revised in 2011 – the Government sought to incentivize foreign investment in upstream activities, enhancing transparency, clarity and productivity across the hydrocarbons market. Regulatory revisions continue to be made, and in addition to geological insight, the Mauritanian session this November will provide a comprehensive overview of the country’s investment environment, equipping potential investors with the information they need to make informed decisions.
Efforts to enhance investment attractiveness have already translated into several key milestones, with a number of foreign players exploring the offshore market. International heavyweights to the likes of bp, Kosmos Energy, TotalEnergies, Shell, and many more now operate in this region, signaling the growing significance of Mauritania in the global energy landscape. These and many other players are looking at fostering new partnerships, and the session will offer insights into promising prospects and collaborations, illustrating the exciting potential of Mauritania’s energy sector.
MSGBC Oil, Gas & Power 2023 is a crucial milestone for the energy sector, bringing together key stakeholders, policymakers, and industry experts to discuss the most recent exploration opportunities in the region. The Mauritanian exploration roadshow, for its part, acts as a catalyst for information exchange and partnerships, and will greatly contribute to the MSGBC region’s long-term energy success.
The conference takes place under the patronage of the President of the Republic of Mauritania Mohamed Ould Cheikh El Ghazouani and in partnership with Mauritania’s Ministry of Petroleum, Energy and Mines; the Mauritanian Oil and Mining Company; Petrosen; COS-Petrogaz; and the African Energy Chamber. Register now to secure your place!