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Operator-Friendly Policies Have Positioned Senegal and Mauritania Natural Gas Industries for Success (By NJ Ayuk)

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4 years ago

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Natural Gas

Senegal and Mauritania are rising fast in the world of natural gas — and this trajectory owes much to their cooperation with each other as well as to the enabling environment they have created for IOCs

JOHANNESBURG, South Africa, June 28, 2022/APO Group/ — 

By NJ Ayuk, Executive Chairman, African Energy Chamber (www.EnergyChamber.org)

After Mauritania and Senegal signed the inter-governmental cooperation agreement in 2018 that allowed partners Kosmos Energy, BP, and their partners to proceed with the deepwater Tortue natural field project in the Ahmeyim basin, Kosmos Chairman and CEO Andrew Inglis praised both countries’ leaders. It was their ability to cut through red tape, pursue mutually beneficial solutions, and think in the long term, he said, that would enable Mauritania and Senegal to reap the vast rewards of hydrocarbon province, which is expected to deliver approximately 2.5 mmtpa of natural gas in its initial phase.

“Kosmos congratulates Mauritania, Senegal, and their respective ministries and national oil companies for working together so effectively to reach an agreement that enables their shared gas resources to be developed quickly and efficiently for the benefit of both countries,” Inglis said.

Since then, the project has been moving forward, and Phase 1, a floating liquified natural gas vessel (FLNG), is expected to start operations this year. Other natural gas projects are on the horizon for Senegal and Mauritania as well.  BP and Kosmos plan to launch another large project in the ultra-deepwater Yakaar-Teranga gas field offshore Senegal, which holds 2,739 bcf of natural gas reserves. The Senegalese Ministry of Petroleum and Energies said a final investment decision will be made by the end of the year, and first production will take place in 2024. And in Mauritania, BP has begun studies on its BirAllah offshore gas discovery.

Despite a global pandemic, increasing Western hostility toward hydrocarbons, and a USD33 billion decline in capital expenditure in African projects, Senegal and Mauritania are rising fast in the world of natural gas — and this trajectory owes much to their cooperation with each other as well as to the enabling environment they have created for international oil companies (IOCs). In fact, in 2018, Senegal joined the list of the top five most reforming countries in sub-Saharan Africa, meaning they’ve made considerable strides to improve the business climate and increase their attractiveness to investors. Not to be outdone, Mauritania comes in at number 10 on the list of top reformers worldwide. 

Savvy Fiscal Regimes

Among the reforms, Senegal and Mauritania have tackled major threats to foreign investment, including high taxes and cost recovery limits.

Both nations have a unique opportunity to shape these policies in a way that continues to embrace IOCs, keep industries competitive, and continue down a path of energy independence

Unlike Nigeria, whose unclear fiscal policies often constrain its huge reserves’ profitability, the two Sub-Saharan nations have created fairly reasonable policies for projects such as Tortue, Bir Allah, Orca, Cayar, and Yakaar-Teranga. As the African Energy Chamber’s soon-to-be-released Petroleum Laws – Benchmarking Report for Senegal and Mauritania discusses in detail, Senegal offers the largest natural gas reserves for the most reasonable fiscal policies.

Even at first glance, Senegal and Mauritania have offered investor-friendly incentives for recent projects. Tax rates are low, there are no royalties, and the Profit Oil Government Share — that is, the amount of production, after deducting production allocated to costs and expenses, that will be divided between the participating parties and the host government under the production sharing contract — is capped at 42% for Tortue and 58% for Yakaar-Teranga. Equally important, their cost recovery limits make it clear that Senegal and Mauritania want warm relations with IOCs for the long haul, not just the initial stages of foreign investment. With a cost recovery limit of up to 75%, they remove many of the anxieties and uncertainties inherent in foreign investment. Contrast that with the cost recovery limit in Egypt’s giant offshore gas field in Egypt, which declines to 20% 11 years after start-up.

In short, Mauritania and Senegal have some of the most operator-friendly fiscal policies on the continent, and that is bound to attract additional investment. Only Mozambique, South Africa, and Ghana offer better terms currently, but this contrast in no way undermines Senegal’s and Mauritania’s path to success. With other advantages such as more peaceful locations and larger, recently discovered reserves, they’re only beginning to realize their full potential.

Reserves Meet Stability

Political stability is often an investment watchword — and it’s an advantage for both Senegal and Mauritania. While IOCs have often successfully persevered in unstable nations, investments inevitably suffer from political fallout.

In a study of contrasts, Mozambique discovered similar natural gas reserves (100 trillion cubic feet to Senegal’s 120 trillion) in 2010. But despite comparable foreign attention and investment – not to mention a four-year head start – Mozambique’s gas industry lags somewhat behind Senegal’s, due in no small part to ongoing regional violence. While France’s TotalEnergies announced its plans to return to Mozambique in 2022, it doesn’t anticipate production to begin until a full year after Tortue’s own target date – and even that ambition rests on the hope that Mozambique first enhances its security.

Such violence can even hurt nations with huge reserves and longstanding IOC relationships. Shell pulled out of Nigeria partly because of oil theft and pipeline sabotage, even though the nation enjoys twice the oil reserves of Senegal. After decades of tolerating such violent environments for the sake of rich resources, IOCs will inevitably look to Senegal’s potent combination of huge reserves and peaceful environment. Free of that added burden of local instability, foreign investment can only grow to new heights in this emerging nation.

Going Forward

Despite Western talk of renewables, the world can’t deny a continued need for oil and gas — a need only highlighted by uncertainty in the wake of the Ukraine conflict. By offering such a unique combination of political stability, reasonable fiscal policies, and large reserves, Senegal and Mauritania have laid the framework for a bright future in this industry.

Better yet, both nations acknowledge that they still have room to improve and truly expand on their potential. The African Energy Chamber hopes they will take the opportunity to systematically update and clarify their other policies, such as local content laws. While Senegal recently revised their policies, the enforcement mechanisms remain somewhat vague. Mauritania, for its part, has not revisited theirs in almost a decade. Both nations have a unique opportunity to shape these policies in a way that continues to embrace IOCs, keep their industries competitive, and continue down a path of energy independence.

Distributed by APO Group on behalf of African Energy Chamber.

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Sierra Leone’s PDSL to Host Strategic Investor Roundtable at Paris Energy Forum

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1 day ago

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March 24, 2026

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Energy Capital

The Petroleum Directorate of Sierra Leone will lead a targeted roundtable at Invest in African Energy 2026, spotlighting upstream potential and cross-regional partnerships

PARIS, France, March 24, 2026/APO Group/ –The Petroleum Directorate of Sierra Leone (PDSL) is set to convene an investor roundtable at Invest in African Energy (IAE) Forum 2026 in Paris, underscoring growing interest in West and North African energy markets and the need for deeper capital engagement across exploration, renewable and offshore services. The session reflects a strategic effort by Sierra Leone to connect its emerging upstream prospects with established operators and project developers as the country moves to unlock the full potential of its emerging oil and gas industry.

 

Sierra Leone is increasingly positioning itself as a frontier oil and gas market with significant offshore potential, and part of the PDSL’s mandate is to catalyze investment interest in its offshore acreage through direct engagement with global capital. Recent data suggest the country holds estimated recoverable resources in the tens of billions of barrels, backed by discoveries and extensive multi‑client seismic datasets that prospective investors are evaluating. The PDSL is actively promoting licensing opportunities and drilling plans, emphasizing fiscal terms and exploration readiness to attract strategic partners.

 

A cornerstone of this strategy is the anticipated launch of the country’s sixth licensing round. Offering a rare early-entry opportunity into a largely untapped deepwater terrain with considerable upside, the upcoming bid round is backed by fresh 3D datasets which de-risk exploration and support new drilling campaigns. Just this month, GeoPartners announced that the final Pre-Stack Time Migration data for its recently acquired 3D multi-client seismic survey in the country was complete and is now available for licensing. The dataset provides a 3D window into the hydrocarbon potential of the underexplored northern Sierra Leone region.

 

Sierra Leone’s licensing drive comes as major operators advance exploration activities. In 2025, Eni signed a Reconnaissance Permit Agreement with the PDSL, securing rights to conduct reconnaissance and technical evaluation activities across offshore blocks G113, G129, G130, G131 and G132. The acreage covers 6,790 square kilometers within Sierra Leone’s territorial waters. Nigeria’s F.A. Oil Limited is pursuing drilling following its award of six offshore blocks through the country’s fifth licensing round in 2023. The company is currently seeking a farm-in partner to advance the project from exploration to production, offering a 40% stake in each of the G Blocks 53, 54, 55, 71, 72 and 73.

 

As these development unfold, the upcoming roundtable at IAE 2026 offers a unique opportunity for operators and policymakers to engage potential investors. The IAE 2026 Forum has become a strategic bridge between African upstream opportunities and global investors, with sessions like the PDSL roundtable designed to foster deeper dialogue and provide clarity on project pipelines and investment prerequisites. Discussions are expected to cover mechanisms for de‑risking exploration activity, optimizing fiscal and contractual frameworks and identifying synergies between hydrocarbon investment and renewable energy commitments.

 

For investors seeking differentiated exposure to African energy markets, the Sierra Leone roundtable represents both a focused exploration of frontier oil potential and a broader conversation about regional infrastructure, partnerships and the evolving demands of energy capital in the years ahead.

 

IAE 2026 (www.Invest-Africa-Energy.com) is an exclusive forum designed to connect African energy markets with global investors, serving as a key platform for deal-making in the lead-up to African Energy Week. Scheduled for April 22–23, 2026, in Paris, the event will provide delegates with two days of in-depth engagement with industry experts, project developers, investors and policymakers. For more information, visit www.Invest-Africa-Energy.com. To sponsor or register as a delegate, please contact sales@energycapitalpower.com

 

Distributed by APO Group on behalf of Energy Capital & Power.

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Cape Town Prepares for African Mining Week 2026 as Draft Program Reveals Continent’s Mineral Drive

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1 day ago

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March 24, 2026

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Energy Capital

African Mining Week returns for its 2026 edition with an expanded three-day program, bringing together African mining leaders and global partners to shape the future of the continent’s mining sector

CAPE TOWN, South Africa, March 24, 2026/APO Group/ –Global economic trends – from record-breaking commodity prices to intensifying geopolitical competition for resources – are reshaping the strategic importance of Africa’s mineral wealth. As global countries race to secure supply chains for energy transition metals – which are expected to triple by 2030 – Africa is positioning its 30% share of the world’s critical minerals as a key pillar of economic growth. African governments are modernizing mining codes, developing industrial corridors and investing in mineral processing facilities to support local beneficiation, job creation, workforce development and regional mineral markets.

 

Against this backdrop, the upcoming African Mining Week (AMW) Conference & Exhibition – Africa’s premier gathering for mining stakeholders – has launched the draft program for its 2026 edition {https://apo-opa.co/3NneKLj}. Scheduled to take place October 14–16 in Cape Town, the event provides a platform where policymakers, global investors, project operators, technology providers, academia and mining service companies examine Africa’s mining opportunities, challenges and long-term strategic direction.

Under the theme ‘Mining the Future: Unearthing Africa’s Full Mineral Value’, the three-day, multi-track agenda reflects the growing urgency among African markets to strengthen value addition across the mining value chain.

Regional Cooperation and Policy Alignment in Focus

A key feature of the agenda is the Ministerial Forum, where African mining ministers will provide updates on regulatory reforms and policy alignment initiatives aimed at unlocking greater value from the continent’s mineral resources. Discussions will examine how harmonized regulatory frameworks and regional cooperation can accelerate investment flows and strengthen Africa’s position in global mineral supply chains.

The inclusion of regional policy integration reflects a growing continental push to leverage frameworks such as the African Continental Free Trade Area (AfCFTA) to enhance cross-border mineral cooperation and trade.

We are acting to enhance regional integration through frameworks such as the African Mining Vision and the Africa Mineral Strategy Group

“Africa’s integration is not only a political objective but a strategic economic vision,” stated Emmanuel Armah-Kofi Buah, Ghana’s Minister of Lands and Natural Resources, in remarks reported by Energy Capital & Power – organizers of AMW – in February 2026. “Our natural resources require coordinated policies. Isolated legal frameworks cannot fully unlock their value. Through integration and initiatives such as the ECOWAS [Economic Community of West African States] Mining Code and the African Mining Vision, we can build a stronger and more competitive mineral economy.”

Nigeria’s Minister of Solid Minerals Development, Henry Alake, echoed this emphasis on regional cooperation and beneficiation.

“We are acting to enhance regional integration through frameworks such as the African Mining Vision and the Africa Mineral Strategy Group,” he stated. “We must develop mineral corridors that connect resources, infrastructure and markets across the continent. Our goal is not to simply export raw materials, but to develop industrial hubs that create jobs and value across borders.”

Connecting Global Investors with African Opportunities

Strategic roundtables and Country Focus sessions form a key part of the AMW 2026 program, connecting African mining jurisdictions with international partners from the U.S, Europe, the Middle East and China. These sessions will provide African stakeholders with a platform to showcase exploration opportunities and project pipelines across the mining value chain.

Meanwhile, technical workshops and the exhibition floor at AMW 2026 will provide a platform for equipment manufacturers, technology providers and engineering firms to showcase innovations designed to enhance operational performance across mining operations.

By combining high-level policy dialogue with technical expertise and investment matchmaking, AMW 2026 positions itself as a critical marketplace where Africa’s mineral potential converges with global capital, technology and strategic partnerships – helping shape the next phase of growth for the continent’s mining sector.

AMW serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2026 conference from October 12-16 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

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Tony Elumelu Foundation Selects Seven North African Entrepreneurs in 2026 Cohort

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1 day ago

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March 24, 2026

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entrepreneurs

Seven North African entrepreneurs in technology, education, professional services and agriculture selected from 265,000 applications at historic Abuja ceremony

Hope is not just a feeling — it is a system we can build

ABUJA, Nigeria, March 24, 2026/APO Group/ —

  • 7 North African entrepreneurs selected from Morocco, Tunisia and Egypt
  • 51% of the 2026 cohort are women, all selected purely on merit, without any quota in place
  • 3,200 total entrepreneurs selected from 265,000+ applications across 54 African countries
  • USD 5,000 in non-refundable seed capital for each selected entrepreneur
  • Selection conducted independently by Ernst & Young

 

The Tony Elumelu Foundation (TEF) (www.TonyElumeluFoundation.org), the leading philanthropy empowering young African entrepreneurs, announced on Sunday, 22 March 2026 the 12th cohort of the TEF Entrepreneurship Programme at a ceremony held at the Transcorp Hilton, Abuja. The announcement was made by Founder Tony O. Elumelu, C.F.R.

 

Among the 3,200 entrepreneurs selected from 265,000 applications received from all 54 African countries: seven from North Africa. Three from Tunisia, two from Morocco, two from Egypt. Spanning technology, education, professional services and agribusiness, they represent a generation of North African founders building businesses that address the urgent needs of their communities. Their selection, which was conducted independently by Ernst & Young, places them among the most rigorously assessed young entrepreneurs on the continent.

 

This year’s cohort carries a historic signal: 51 percent of the 2026 entrepreneurs are women. They were selected purely on merit, without quota. Across hundreds of thousands of applications, women distinguished themselves through the strength of their ideas, the clarity of their business models and the ambition of their vision.

 

In 2026, the Foundation is empowering a total of 3,200 entrepreneurs across all its entrepreneurship programmes:

 

  • 1,751 entrepreneurs through Heirs Holdings Group: Heirs Energies, Transcorp Power, Transcorp Hotels, and United Capital;
  • 1,049 entrepreneurs in partnership with the European Commission, OACPS, BMZ and GIZ;
  • 100 entrepreneurs in partnership with Sèmè City Development Agency;
  • 100 entrepreneurs in partnership with DEG, the German Development Agency;
  • 100 entrepreneurs in partnership with the IKEA Foundation, UNICEF’s Generation Unlimited and the Dutch Government; and
  • 100 entrepreneurs in partnership with UNDP and the Rwandan Ministry of Youth and Arts.

 

 

Each selected Tony Elumelu Entrepreneur will receive USD 5,000 in non-refundable seed capital, access to world-class business management training on TEFConnect, one-on-one mentorship, and entry into a powerful network of investors, partners and fellow entrepreneurs.

 

In his annual letter (https://apo-opa.co/4uOFepM), “A Story of Hope,” Tony O. Elumelu, C.F.R., Founder of the Tony Elumelu Foundation, shared a powerful message to the new cohort:

 

“For a long time, I believed luck was something that simply happened to you. Then I came to understand: luck can be engineered. Opportunity can be democratised. Hope is not just a feeling — it is a system we can build.” — Tony O. Elumelu, C.F.R., Founder, Tony Elumelu Foundation — 2026 Annual Letter

 

The Tony Elumelu Foundation has empowered over 2.5 million young Africans with access to business management training on TEFConnect (https://TEFConnect.com), and disbursed over USD 100 million in seed capital to more than 24,000 selected entrepreneurs.

 

Collectively, these entrepreneurs have generated USD 4.2 billion in revenue and created more than 1.5 million direct and indirect jobs. Through its support for African entrepreneurs, TEF has lifted 2.1 million Africans above the poverty line and positively impacted more than 4 million African households, with 46% of supported entrepreneurs being African women. Eighty percent of TEF-supported businesses survive and scale, against a global average of ten to twenty percent.

 

 

The announcement ceremony was broadcast live in English (https://apo-opa.co/3PWLiML), French (https://apo-opa.co/3PWLiML), Portuguese (https://apo-opa.co/4t4Y7Da) and Arabic (https://apo-opa.co/4bYHlQl).

 

Distributed by APO Group on behalf of The Tony Elumelu Foundation.

 

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