Gambian Spotlight Session to be Held at MSGBC Oil, Gas & Power 2022

Energy Capital & Power (ECP) (https://EnergyCapitalPower.com/) is proud to announce a key addition to the agenda for this September’s MSGBC Oil, Gas & Power Conference (https://bit.ly/3au4kpr)  within the type of a Gambian Spotlight session. Offering essential perception into the nation’s second bid licensing spherical, the session goals to promote The Gambia’s potential as a frontier upstream vacation spot, triggering new overseas funding flows and kickstarting the event of an area oil and fuel market.

Confirmed audio system embody Jerreh Barrow, Director-General of The Gambia’s Petroleum Commission; Yaya Barrow, Managing Director of the Gambia National Petroleum Corporation (GNPC); Cany Jobe, Director of Exploration and Production at the GNPC; Lamin Camara and Kemo Ceesay, Permanent Secretary and Director of Energy at the Ministry of Petroleum and Energy, respectively; and Nani Juwara, Managing Director at the National Water and Electricity Company (NAWEC), between them providing unparalleled strategic insights into The Gambia’s upstream sector throughout the board.

While it’s early days but for Gambian exploration, regional mega finds together with Mauritania’s 13 trillion cubic ft (tcf) of fuel in BirAllah, 15 tcf within the transnational Mauritania-Senegal Greater Tortue Ahmeyim growth, and 20 tcf in Senegal’s Yakaar-Teranga bode nicely for The Gambia, particularly on the again of Australia-listed, FAR’s discovery of a possible 1.5 billion barrels of oil in blocks A2 and A5, confirmed this 12 months. Already, with six blocks energetic, The Gambia is anticipating a 5.1% GDP development this 12 months, and with FAR’s oil discover estimates, the 5 offshore blocks and two onshore blocks to be launched in The Gambia’s second licensing spherical are trying more and more engaging as prospects.

Presently energetic within the basin are a aggressive slate of world oil majors together with Norway’s PetroNor, Britain’s bp, Ireland’s Tullow Oil, Malaysia’s Petronas, America’s Kosmos Energy, Australia’s FAR and Woodside. Now, with seven recent blocks quickly to be up for bidding and FAR saying a farm-down of its 1.5-billion-barrel potential oil discovery within the Panthera, Jatto and Malo prospects – thrice the dimensions of Senegal’s $4.8 billion Sangomar megadevelopment – there’s a distinctive alternative for newer gamers to enter the nation’s resource-rich fields.

During the roundtable highlight session, audio system will present insights concerning the second licensing spherical whereas making a robust case for overseas direct funding (FDI) in The Gambia. Specifically, with FDI on the rise, Gambia’s residents are set to profit – the nation has ensured an built-in system of company native content material accountability by way of the Gambia’s Petroleum Exploration, Development and Production Licenses, refreshed with a mannequin settlement launched this 12 months. The mannequin gives obligatory directions that multinationals working in-country should submit an annual native content material plan, make fiscal contributions to inside and authorities native content material funds of at least 1% of working bills every, and make use of native items and companies the place equal to inside 10% of worldwide rivals’ price-points, focusing on a ten% spend of manufacturing prices domestically. Further, below The Gambian Investment and Export Promotion Agency Act revised in 2015, worldwide companies’ workforces might have overseas employees comprising simply 20% of the overall no matter place, permitting native expertise to thrive.

Last 12 months, ECP’s occasions noticed $2.5 billion in offers signed. This 12 months, with the GNPC and Ministry of Petroleum and Energy as companions for ECP’s premier west African congress – that includes in-panel discussions throughout the two-day convention along with main The Gambia’s devoted Roundtable Spotlight session – the nation’s personal trade prospects have by no means been brighter.

To be a part of The Gambia’s main sector decision-makers, regional policymakers and worldwide traders in collaboratively re-defining the nation and continent’s vitality future, head to https://MSGBCOilGasandPower.com/ to register.

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

About the MSGBC Oil, Gas & Power 2022 convention:
Under the patronage of H.E. Macky Sall, President of the Republic of Senegal, MSGBC Oil, Gas & Power will as soon as once more happen in Dakar, Senegal, with the occasion serving as a catalyst for funding and multi-sector growth in 2022. To discover out extra go to MSGBCOilGasandPower.com or contact [email protected]