Guinea-Bissau Partners with Energy Capital & Power (ECP) as Hydrocarbons Works Accelerate
The Ministry of Natural Resources and Energy of Guinea-Bissau has completed productive discussions with Energy Capital & Power in preparation for this year’s MSGBC Oil, Gas & Power Conference, looking to drive FDI in the sector
The national company for oil research and exploration is the regulatory agency of the oil sector in the country
International Conference Director at Energy Capital & Power (ECP) (www.EnergyCapitalPower.com), Sandra Jeque, met with a top delegation from the Ministry of Energy, Industry and Natural Resources of Guinea-Bissau (https://bit.ly/3sz6Xfy) to ink a promotional partnership between the Cape Town-based firm and the west African country’s public energy sector. In attendance were Guinea-Bissau’s Minister of Energy, Industry and Natural Resources, H.E. Orlando Viegas, accompanied by H.E. Augusto Poquena, Secretary of State for Energy; Carlos de Pinho Brandão, Managing Director of Energy; Mauricio Correia de Matos, Managing Director of Geology and Mines; and Fatima Kassimo Assad, Managing Director of Water Resources.
As the ‘gas rush’ unfolds across west Africa, the region’s key industry stakeholders will gather at ECP’s west African event, the MSGBC Oil, Gas & Power Conference and Exhibition (https://bit.ly/39p6KVo), from 1 to 2 September under the theme, “The Future of Natural Gas: Growth Using Strategic Investment and Policymaking.” Guinea-Bissau has recently opened five blocks for bidding under a special deep water tender round. This round is an unprecedented opportunity for new players to enter the country’s hydrocarbon space, given that no single operator may operate more than three blocks domestically, by law, and that exploration licenses are to be granted for up to ten years. In addition, the national oil company, Petroguin, is also seeking geophysics contractor services for seismic studies on Guinea-Bissau’s active fields to assess extant resources and extraction pathways.
“The national company for oil research and exploration is the regulatory agency of the oil sector in the country whilst simultaneously acting as a commercial company in its own right. Petroguin has been actively promoting the country’s potential in hydrocarbons and constantly optimizing its ability to attract foreign investment to increase oil and gas exploration in Guinea-Bissau,” H.E. Minister Viegas said.
Celedonio Plácido Vieira, Managing Director at Petroguin, added that this is a pivotal time for the country’s hydrocarbons sector.
While the full potential of the country’s oil and gas reserves remains currently undetermined, the country does have strategic intent to increase energy levels throughout the nation. The move is crucial given that national access to electricity for the population of two million sits at just 33.3%. Having passed a new Petroleum Code in 2014, the country is however gearing up to follow the energy path of its regional neighbors, Mauritania and Senegal, who boast $4.6 billion in gas developments found in the Greater Tortue Ahmeyim and Sangomar fields.
Crucially, investment is needed to ensure extraction of the country’s resources and with its newly established partnership with ECP, key advantages are offered in this regard. As the African continent’s leading investment platform, newsroom and conference facilitator, ECP recorded $2.5 billion worth of deals signed at the firm’s events last year by some of its 5,000 delegates. This year’s MSGBC Oil, Gas & Power Conference & Exhibition will attract investment delegations from the United States, Australia, Europe, Asia and the Middle East – a testament to heightened interest in the region’s extractive sectors – looking to build on last year’s success.
The event, opened by the President of the Republic of Senegal, H.E. Macky Sall, will also represent a key opportunity for policymakers to meaningfully engage ahead of this year’s UN climate change negotiations in Egypt. At COP27, Africa’s carbon emissions will be under the spotlight, giving the MSGBC conferences’ impetus as a key stage for the region to unify its narrative on its collective energy future. H.E. Minister Viegas will also join counterpart Ministers from Senegal, Mauritania, Nigeria and The Gambia as a VIP speaker.
For more information, visit (https://bit.ly/39p6KVo).
Distributed by APO Group on behalf of Energy Capital & Power.