This year’s MSGBC Oil, Gas & Power 2024 conference – taking place in Dakar from December 3-4 – will feature a strategic panel session that aims to dissect the implications of these advancements, examining the opportunities and challenges in unlocking the offshore hydrocarbon potential of West Africa. Titled, Emerging Frontiers: Leveraging New Discoveries for Growth in West Africa, the session will examine the impact of recent discoveries in the region and how service companies can adapt and equip themselves to meet the growing needs and economic benefits of oil and gas exploration.

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.

This year, Senegal joined the ranks of oil-exporting countries when it loaded its first crude cargo from the Sangomar oil project onto the Maran Poseidon crude tanker. The $5.2 billion Sangomar field development is operated by global energy company Woodside Energy and aims for an initial production of 100,000 barrels per day. With 16 offshore blocks available for tender, on track for first gas production from the GTA gas development later this year and home to the massive Yakaar-Teranga gas development, Senegal is poised to become a major player in the exploration and production space in the MSGBC region.

Additionally, serving as a major development for the region, the discovery of oil in Ivory Coast’s Calao concession has the potential to address local energy needs while turning the country into a major oil, gas and condensates producer. Situated in Block CI-205, the Calao discovery is the second largest oil discovery in Ivory Coast following the discovery of the Baleine field in 2021, which commenced production in August 2023.

In The Gambia, offshore prospects offer significant potential for play-opening discoveries. Last year, the country extended independent oil and gas company FAR’s permit for Block A2 and A5 until September 30, 2025, with reduced annual fixed costs. Meanwhile, national oil company (NOC) the Gambia National Petroleum Corporation (GNPC) signed a memorandum of understanding with global energy company the Nigerian National Petroleum Corporation in 2023 to explore and develop crude oil in the country, which entails geological studies, seismic data analysis and potential drilling activities. GNPC Managing Director Baboucarr Njie will share insight into the investment opportunities across the country’s oil and gas value chain during the emerging frontiers panel discussion.

Meanwhile, bidding terms for a proposed 22-block licensing round in Guinea-Conakry are currently being finalized and are expected to generate interest from global exploration and production players seeking to find success in the MSGBC basin. Expected to promote unexplored opportunities in off- and onshore acreages in West Africa while introducing potential investors to domestic infrastructure projects, the Director General of Guinea-Conakry’s NOC Société Natinoale des Pétroles (SONAP) Moussa Cissé will also participate in the panel session.

Multinational energy company Oando completed its acquisition of energy supermajor Eni subsidiary Nigerian Agip Oil Company – which holds interests in onshore OMLs 60, 61, 62 and 63, as well as the Brass LNG terminal – in July 2024. The move aims to transform the company into one of Nigeria’s largest oil producers and doubling its reserves to 996 million barrels of oil equivalent. Following this acquisition, the MSGBC session will also feature the participation of Oando CEO Adewale Tinubu, who is poised to discuss the company’s role as an indigenous explorer in the region.

“As the MSGBC region solidifies its status as a key player in global hydrocarbon exploration, this dedicated panel session will be crucial in mapping out the future of the industry. The session will explore how recent discoveries can drive economic growth and create new opportunities for investment,” states Energy Capital & Power Project Director Sandra Jeque.