Guinea-Bissau and Senegal promote the development of hydrocarbons in the MSGBC basin (By Miguel Artacho)



Guinea-Bissau and Senegal promote the development of hydrocarbons in the MSGBC basin (By Miguel Artacho)

AGC is also active in two other highly strategic sectors for the two countries: mining and fishing.

DAKAR, Senegal, October 12, 2021 / APO Group / –

By Miguel Artacho, field editor

Guinea-Bissau has several offshore areas that offer good prospects for a variety of independent exploration and production (E&P) companies, as well as international oil companies (IOCs) that currently operate in several countries in the MSGBC basin, including the Swedish company Svenska Petroleum. , the Norwegian company PetroNor E&P and the Australian company FAR LTD, also present in The Gambia and Senegal. The bulk of E&P activities are carried out in partnership with Petroguin EP, Guinea Bissau’s national oil and gas company, however, there is another particularly important player in Guinea’s oil and gas sector – the Agency cooperation (https: // bit .ly / 3awuEvE) Between Senegal and Guinea-Bissau (AGC).

The AGC is an entity that reports directly to the presidents of the two countries on all developments in the oil and gas industry; and also has strong functional links with relevant ministries – the Ministry of Petroleum and Energy in Senegal and the Ministry of Natural Resources and Energy in Guinea-Bissau.

The AGC ( is headquartered in Dakar, Senegal and is responsible for carrying out geological and geophysical studies, drilling works and activities related to petroleum exploration and resources. . Equally important, the AGC is responsible for assisting in the marketing and promotion of all oil and gas activities in Guinea Bissau. Finally, the AGC also plays an active role in ensuring that the exploitation of these natural resources is done in a sustainable manner that ensures the control and protection of the marine environment where these offshore blocks are located.

Besides its important role in the development of regional cooperation in the oil and gas sector, the AGC also plays a role in two other highly strategic sectors for the two countries, which are mining and fishing. Guinea-Bissau is undoubtedly one of the richest countries in Africa in terms of natural resource endowment ( There are significant deposits of bauxite and phosphates in the country.

Oil operations in the AGC zone ( began in 1958 with Compagnie des Pétroles Total Afrique de l’Ouest (COPETAO) in Senegal and Compagnie EXXON in Guinea-Bissau. Initially, Petroleum Operations focused on salt domes (Dôme Flore and Dôme Gea) characterized by structural traps. These operations led to the discovery of heavy oil deposits on the Dôme Flore in 1967 and on the Dôme Gea in 1971.

In 1991, Casamance Petroleum Ltd. obtains the hydrocarbon exploration permit known as the Dôme Flore Permit and acquires a set of 3D seismic data (300 km2), on the Dôme Flore and the Dôme Gea. This permit expired in 1994 and the area was then reassigned to the Pecten company, which drilled a shallow exploration well called “Boabab-1” on the eastern flank of Dome Gea in 1996. This drilling encountered traces. of oil. From 1997 to 1999, the AGC ( undertook seismic studies followed by a vast campaign to develop the blocks of the deep offshore of the Common Zone in which the AGC facilitates the cooperation between Senegal and Guinea Bissau.

Following this promotion campaign, two hydrocarbon exploration permits (Cheval Marin Permit and Southern Cross Permit) were awarded in the deep areas respectively to the company AGIP – a subsidiary of the multinational oil company Eni – and to Fusion Oil & Gaz NL, first. from 2001. These two companies subsequently carried out major 2D and 3D seismic surveys, magnetic, gravimetric, geochemical and geological studies, in their respective permits. The AGC ( currently has partnerships with a number of oil and gas companies including Petroguin E&P, Oryx Petroleum, CNOOC / NEXEN, Tender Oil & Gas SARL and Best Petroleum, among others. . A future auction round could attract even more players to the offshore blocks managed by the AGC.

Future auction rounds

Today, following the various large-scale discoveries that took place in Senegal’s offshore waters (SNE, SAGOMAR) and on the border with Mauritania (GTA) from 2014 to 2017, there has been renewed interest throughout the region to develop the hydrocarbon potential of the MSGBC Basin, which is still largely underexplored. The offshore blocks that the AGC is responsible for managing and promoting for future tenders currently have a number of mid-sized E&P companies analyzing the seismic data obtained and prospecting for oil and gas, but Guinea -Bissau and its partners in Senegal are interested in attracting new investors, and potentially partnering with IOC to potentially help fund a more aggressive exploration and drilling campaign.

In response to the growing demand for renewable energy and the growing interest of international stakeholders to invest, develop and succeed in Africa, Energy Capital & Power will host the MSGBC Oil, Gas, & Power 2021 (https: // bit. ly / 3v6KMgN) conference and exhibition on December 2 and 3, 2021. Focused on strengthening regional partnerships, stimulating investment and development in the oil, gas and electricity sectors, the conference will bring together regional international actors with African opportunities, serving as a growth oriented platform for Africa’s energy sector. Read more about the conference here: The Energy Minute: MSGBC Oil, Gas & Power 2021 (

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