The renegotiation of oil contracts, one of the new regime’s major commitments, is making significant progress, according to Energy Minister Biram Soulèye Diop. He spoke yesterday on the sidelines of the launch of the 4th edition of MSGB C (Mauritania, Senegal, Gambia, Guinea-Bissau, and Guinea-Conakry) Oil, Gas & Power, a strategic framework bringing together regional stakeholders in the sector.
Since the arrival of the new authorities, the promise of a review of the oil agreements has been a central expectation, but little information had been released until now regarding the progress of the negotiations. When questioned at a press conference, Biram Soulèye Diop stated that “very solid and concrete progress” has been observed in the ongoing discussions with the operators.
“We are in very advanced strategic discussions, conducted with the sole aim of preserving and strengthening Senegal’s interests,” the minister declared. To illustrate, he cited the Grand Tortue Ahmeyim (GTA) project, assuring that “no resource will be extracted from Senegalese or Mauritanian subsoil without first and foremost serving the interests of the Senegalese and Mauritanian people.” He emphasized that the ongoing negotiations are entirely consistent with this principle of sovereignty and the protection of national resources.
The minister also announced that the authorities will be able, “in a few days,” to provide more information on the results of the discussions to demonstrate their robustness and relevance. Several points have already been “finalized,” he assured. Among them is the case of the Fortesa project, which, according to Biram Soulèye Diop, “has reached its limit” and had its operating license revoked.
Regarding the local content policy, the minister painted an encouraging picture. More than 470 companies are now registered on the dedicated platform, in addition to more than 200 others operating in the mining sector. This enthusiasm, he said, reflects the interest of national stakeholders in initiatives promoting local content.
He also announced the development, by the Secretariat in charge of local content, of a new platform for young people with skills related to the oil and gas value chain. This tool, he explained, allows qualified young people to register and be connected with companies in the sector for their first job. This measure aims to facilitate access for young Senegalese to the opportunities generated by the oil and gas boom.
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