Mauritania, Taqa Arabia-GoGas Consortium Sign Exploration-Production Contract for Banda, Tevet Gas Fields
On 1 April, in Nouakchott, Mr. Nany Ould Chrougha, the Minister of Oil, Mines, and Energy, government spokesperson, signed with Mr. Khaled Abou Bakr, the Representative of the Taqa Arabia-GoGas consortium and President of the Board of Directors of the GoGas company, an Exploration-Production contract. The project concerns the exploitation of gas reserves in the Banda & Tevet fields located in the Mauritanian coastal basin.
The Banda & Tevet block has total reserves estimated at 2.2 trillion cubic feet of natural gas. It is expected to bring about a major transformation in electricity production by making it possible to supply gas to the 180-megawatt dual power plant.
The contract also provides for additional electricity reserves allowing partners such as SNIM and SOMELEC to benefit from them to improve energy performance in the face of growing energy demand and supply the country’s industrial and mining centers with high-reliability electricity.
In a speech on this occasion, the Minister of Oil, Mines, and Energy stressed that the signing of this agreement constitutes an important step in the framework of the new dynamic of valorization of the national gas resources of Mauritania, strengthening the energy sector and stimulating investments in exploration-production in the coastal basin, and increasing the level of exploitation of national oil and gas reserves.
He added that the local content component of the project is strongly present, particularly in the areas of employment, transfer of know-how, opportunities for acquisition and exchange of equipment, and conclusion of service and supply contracts.
For his part, the Representative of the Taqa Arabia & GoGas consortium affirmed that the total investment in the project amounts to more than one billion US dollars and covers the areas of extraction, transport, and gas distribution, that is to say, all stages from extraction to electricity production, including the construction of a new power station and gas transport infrastructure.
He added that the development of these two deposits will accelerate the pace of achievement of the sector’s strategy aimed at ensuring universal access to electricity in Mauritania by 2030 and supporting synergy between the gas and electricity sectors to supply industrial and mining centers with electricity at competitive prices and with high performance and reliability.
It is noteworthy that GoGaz is a pioneering company in the exploration and production of oil and gas and stands out for its diversified partnerships with experienced regional investors and technicians. The company’s vision is to strengthen opportunities in the natural gas markets in the Eastern Mediterranean and Africa through strategic partnerships, the development of gas exploration activities, and the successful acquisition of promising exploration projects.
As for Taqa Arabia, it is a company specializing in the area of energy and public services, and it is Egypt’s first company in the field of securing energy needs since it provides electricity to more than 1,800,000 homes. It offers various services, including the transport and distribution of gas, the production and distribution of conventional and renewable electrical energy, and the marketing of oil and lubricant products.