NEW OIL ALONG THE WEST AFRICAN COAST: 7 LESSONS FOR INVESTORS

Control Risks on 8th August published a report concerned with offshore oil and gas discoveries in 2014 and 2015, and Senegal’s newfound status as one of Africa’s most exciting investment prospects in Senegal and its waters and on the Senegal-Mauretania maritime border.  The report warns that the countries of the so-called Mauritania-Senegal-Guinea-Bissau Basin (MSGB) share 2 characteristics: a lack of prior experience with the oil and gas sector, and elevated levels of political volatility, with violent transitions of power having occurred in all bar Senegal in the last decade.

senegal

The report outlines 7 lessons that investors looking for “new oil” would do well to take into account.  These include to anticipate security challenges – saying that Dakar is an attractive target for Islamist militants operating in the Sahel, while questions remain over whether a rumoured non-aggression pact with Mauritania will protect the country from further attacks in the coming years.

https://www.controlrisks.com/our-thinking/insights/new-oil-along-the-west-african-coast

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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