CNOOC Seeks Mauritanian Acreage
A top-level delegation from the state-owned China National Offshore Oil Corporation (CNOOC) was in Mauritania last week to study potential exploration and investment opportunities, according to Mauritania’s petroleum and energy ministry.
The delegation, led by CNOOC vice-president and chief geologist Xie Yuhong, met Mauritania’s president, Mohamed Ould Abdel Aziz and petroleum minister Mohamed Abdel Vetah September 27 in the presence of Zhang Jianguo, China’s ambassador to the country.
The CNOOC delegation and Vetah had a number of working meetings, with the latter reporting that “the two parties examined areas and perspectives of cooperation” and that Mauritania hoped to benefit from CNOOC’s expertise. CNOOC is present in Uganda, Nigeria, Senegal and Guinea Bissau.
Kosmos Energy and BP are targeting the development of a floating LNG project for start-up 2021 in the Greater Tortue complex comprising four Mauritanian offshore blocks, chiefly C8 (but also C6, C12 and C13) and three others offshore Senegal, subject to a final investment decision due next year. Total has exploration acreage in Mauritania’s block C9 and its more recently acquired C7 block.
CNOOC's visit further confirms interest in what the new exploration hot spot of Mauritania, Senegal, Gambia, Guinea Bissau and Guinea Conakry.
In March 2017, CNOOC acquired a 65% interest in AGC Profond from South African independent Impact Oil. The 6,700 km2 deepwater licence is in the joint offshore area established by Guinea Bissau and Senegal in 1993. Impact retains 20% while a joint venture of the two states has 15% equity.
According to the Mauritanian ministry’s statement, the CNOOC visit last week was spurred by Mauritania’s legal framework which is "stable and promotes competitiveness" a factor that it said attracts many oil and gas operators.
Olivier de Souza