Mauritania has a coastal basin rich in significant natural resources, particularly hydrocarbons, which constitute an attractive potential for investors in the field of extractive industries.
An immense potential
The seismic surveys carried out in this basin, over the last twenty years, have led to the discovery of several oil and gas deposits; mainly a natural gas reserve of around 65 TCF, in the fields of Grand Tortue Ahmeyim (GTA) , and Biralla.
In addition to this, one could mention the other small discoveries of oil and gas in various areas of this coastal basin, such as the Chinguitti oil field, operated for 15 years by Petronas, and the Banda gas field that will be exploited in the next few years.
International giants
These discoveries have attracted, over the past five years, many international companies operating in the field of hydrocarbons. This attraction is only growing, despite the new trend to invest more in renewable energies, because of the negative impacts of fossil fuels on the environment.
Among these campaigns which have just joined the Mauritanian energy market, we can cite the five international giants: The French Total, the British BP, the American Kosmos Energy, the Irish-British Shell and the American ExxonMobil.
Main reasons
The attractiveness of the Mauritanian market can be explained by several advantageous factors, mainly; the gas potential which should be the main driver of the energy transition and the continuous improvement of the legal framework organizing this sector.
Moreover, there is, certainly, the geopolitical advantages as well as the improvement of the business climate in Mauritania, according to international rankings; particulary that of the Doing Business published annually by the World Bank.
Opportunity to seize
Mauritania must seize this opportunity to launch its energy transition program, by exploiting the returns of these operations to develop the production of renewable energies.
In this context, Wood Mackenzie, an international leading energy consultant, called on oil and gas producers to seize the opportunity of the last period of the fossil fuel era to ensure a reliable energy transition.
The current circumstances must be taken into account by the government to maximize efforts in this area, emphasizing the primary role of the private sector.