Upstream West Africa Summit 2021
The Upstream E&P spotlight is once again firmly placed on the prolific region of West Africa. With recovering oil prices and the huge growth in the global gas market, from licensing rounds to deepwater drilling through to FLNG developments & oil production, West Africa is set for a busy 2021 and beyond.
Super Major BP have recently signed the JOA with The Gambia National Petroleum Corporation (GNPC) to operate the offshore A1 Block, adding to their acreage this follows the confirmation of the FID (Final Investment Decision) on the Mauritania & Senegal cross border giant offshore Tortue/Ahmeyim gas project. Cairn Energy & Woodside Energy have submitted the development plans to the Senegalese Government for the world class SNE Field which aims to bring the first FPSO into Senegal. In The Gambia FAR Ltd & PETRONAS recently drilled the SAMO prospect and have another commitment to drill another well in 2020, further south into Guinea-Bissau, CNOOC with their partners Svenska Petroleum & FAR have a commitment to drill in 2020, which will really open the MSGBC basin beyond the confirmed discoveries in Mauritania/Senegal into The Gambia.
Liberia & Sierra Leone are both hoping to reignite interest from the international oil community with further licensing rounds which will spark another period of deepwater offshore exploration. Cote d’Ivoire is aiming to double Oil & Gas output to 200,000 BOE per day by 2020. With 4 producing blocks current output is 50,000BPD Oil and 240 MCF Gas mostly through Foxtrot International and CNR. A revision of the country’s block map covering 87,000 sq km of sedimentary basin, mostly offshore took place in 2017 and direct negotiations have seen a strong uptake from IOC’s.
Indigenous Ghanian oil company, Springfield Energy, announced in Q4 2019 a huge 1.2bn Oil discovery offshore Ghana, eclipsing the Jubilee field. Tullow acquired 4 new blocks alone and are expecting good results to compliment its operations in Ghana. Ghana has launched its first ever competitive bid round with three blocks in its offshore Central Basin. Initial indications from sources in the Ministry of Energy suggest that BP, Total, ExxonMobil, Chevron, Rosneft, Sinopec and CNOOC are all interested in bidding. Tullow is aiming to increase production to 180,000 BPD by the end of the year and has also committed to drilling 8 new wells in 2019. Nigeria is currently Africa’s No.1 Oil producer and 6th largest global producer at 2.5 million BPD. Nigeria is looking to increase its oil output by over 180,000BPD next year and gas output to 3.4 billion cubic feet per day by 2020.
Most of the Super Majors are present in Nigeria with Royal Dutch Shell looking to approve the Bonga South West project which will add 150,000BPD alone once completed. Indigenous Nigerian Operators such as First E&P, Seplat & Oando all have significant interest in marginal fields in Nigeria and are looking to grow their share of the market. The Upstream West Africa Summit is the Annual gathering for West Africa’s Upstream Oil & Gas Leaders.
For 2 days the selected delegates gather together to knowledge share & discuss best practices through thought leadership, take 1-2-1 meetings and network. Now in its 6th year, the Upstream West Africa Summit has gone from strength to strength and promises to be the best yet.