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Mauritania intends to actively involve local com- The lack of financing mechanisms for SMEs is
panies in the gas exploration project. The majori- yet another challenge facing the nation. Its deve-
ty of petroleum-related operators and service lopment credit system does not quite meet SMEs’
providers tend to be foreign-owned companies in needs. The banking system is solid, but short-
many instances. The country wishes to see natio- term resources do not match long-term invest-
nal operators involved in all aspects of the value ment needs. Private equity investment may be a
chain. good option for SMEs in this situation. Although
Mauritania has shown increased receptivity to fo- the Mauritanians are quite excited about the up-
reign direct investment (FDI). Government offi- coming gas exploitation and its potential econo-
cials have stressed the importance of improving mic impact, some people are also bothered by
the business climate to attract more investors. certain threats that the offshore oil project may
Nevertheless, they emphasize the importance of cause. Mauritania’s coast has one of the most
local content when dealing with foreign compa- abundant fisheries in the world.
nies. The local stakeholders are concerned about the
Still, Mauritania has a lot to do to become more sustainability of the fishery with the emergence
attractive. According to the World Bank, this of the Grand Tortue Ahmeyin. There are environ-
country is ranked 152nd out of 190 when it co- mental issues related to offshore oil develop-
mes to ease of doing business. A new investment ment: pollution, oil spill, leakages. A valid ques-
promotion agency has been recently established tion on their minds is whether Mauritania has
in Nouakchott. The head of the agency, Aissata prepared contingency plans in cases of emergen-
Lam, stressed the importance of the legal frame- cy and if the oil exploration won’t impede fishing
work of the country to attract investors. In her activities?
opinion, it’s crucial to reassure investors by
maintaining legal and fiscal stability.

Guinea-Bissau, Senegal promote hydrocarbon development of the
MSGBC basin

Guinea-Bissau has several offshore areas that
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 in several of the (Mauri-
tania – Senegal – Gambia – Bissau – Conakry)
MSGBC Basin countries including Sweden’s Sven-
ska Petroleum, Norway’s PetroNor E&P and Aus-
tralian-based FAR LTD – which is also present in
the Gambia and Senegal. The bulk of E&P activi-
ties are conducted in partnership with Petroguin
Ep, the national oil and gas company of Guinea
Bissau. However, there is another particularly im-
portant player in Guinea’s oil and gas sector, the
Agency for cooperation between Senegal and Gui-
Guinea-Bissau map
nea-Bissau (AGC). The AGC is headquartered in

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