By Ayomide Otitoju
Several international energy companies are expected to enter the MSGBC region’s upstream market in the coming months, targeting exploration opportunities in The Gambia, Guinea-Bissau, and Guinea-Conakry, industry experts said at the MSGBC Oil, Gas & Power 2025 conference in Dakar this week.
Ben Sayers, Partner and Energy Specialist at GeoPartners, noted that while the southern MSGBC basin has yet to record a major discovery, anticipated participation by global operators could change the trend. “We are seeing a very different position in the north of MSGBC and the south. In the north, we have production onstream in Senegal and Mauritania. In the south, countries still need to drill to find that oil. We have seen Chevron joining Guinea-Bissau, which is fantastic. We could see two to three big companies entering The Gambia, and companies are also linking up in Guinea-Conakry,” Sayers said.
Opportunities in deeper offshore acreage are also emerging. Paul Freeman, Global Exploration Advisor at SLB, explained that much of the ultra-deepwater MSGBC basin remains untapped. “We know the geology is good and the right kind of play types exist. Once you go below 1,000 metres, very little exploration has occurred. Recent discoveries in Namibia show certain source rocks perform better in deeper waters,” Freeman said.
Highlighting the region’s potential, Rogers Beall, Executive Chairman of Africa Fortesa Corporation, described the MSGBC basin as “a super world-class petroleum basin” with multiple source rocks spanning the Permian, Jurassic, and Cretaceous periods. “Seismic does not find oil and gas. While seismic is required, drilling finds oil and gas,” he added.
Regional governments are actively promoting upstream investment. Senegal is seeking partners for its Yakaar-Teranga gas project, while Mauritania aims to advance the BirAllah development. Alioune Guèye, CEO of Petrosen Holding, emphasized the importance of national oil companies (NOCs) in attracting investors. “The basin is attractive geologically, but NOCs need to de-risk the basin through preliminary work to draw big players,” Guèye said.
Mauritania is also enhancing its regulatory framework to appeal to investors. Chemsdine Sow Deina, Director General of Petroleum and Low Carbon Hydrogen at the Ministry of Energy and Petroleum, said improvements include updated cost recovery terms, a revised investment code, and a new local content code. “Our legal framework follows global best practices. The win-win partnership is our strategy,” he added.
With improved fiscal terms, bold exploration campaigns, and untapped deepwater potential, the MSGBC region is positioning itself as Africa’s next major upstream exploration hub.
