Oil and gas investors make significant investments in MSGBC Basin.
Oil and gas investors with an interest in Africa, have made significant investments in some of the countries of the MSGBC Basin – which comprises Mauritania, Senegal, Gambia, Guinea-Bissau and Guinea-Conakry.
Although Guinea Bissau has not yet received the same level of attention from investors, its offshore areas hold good prospects for a variety of independent exploration and production (E&P) companies as well as International Oil Companies (IOCs) that are currently operating throughout the MSGBC Basin.
Offshore deposits of oil have been discovered and several companies are already settled in-country, for prospecting and production including China´s CNOOC, Swedish Svenska Petroleum Exploration, and Australian FAR LTD – which is also present in The Gambia and Senegal. E&P activities are conducted in partnership with Petroguin EP, the national oil and gas company of Guinea Bissau.
As in several other countries that make up the MSGBC Basin, Guinea Bissau has some highly prospective offshore acreage. In November of 2020, the independent oil and gas company PetroNor completed a purchase of acreage from SPE Guinea Bissau AB, a subsidiary of Swedish oil and gas company Svenska Petroleum.
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