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Dakar, Senegal, and is responsible for the under- exploration permits (Cheval Marin Permit and
taking of geological and geophysical studies, dril- Southern Cross Permit) were awarded in the
ling work, and activities related to exploration, deep zones respectively to the company AGIP- a
and petroleum resources. Equally important, the subsidiary of the multinational petroleum com-
AGC is responsible to help the marketing and pany Eni- and fusion Oil & Gas NL, at the begin-
promotion of all oil and gas activities in Guinea ning of 2001.
Bissau. Finally, the AGC also takes an active role These two companies subsequently carried out
in ensuring that the exploitation of these natural important work of 2D and 3D seismic surveys,
resources is done in a sustainable manner that magnetic, gravimetric, geochemical studies, in
ensures the control and protection of the marine their respective permits. The AGC currently has
environment where these offshore blocks are lo- partnerships with several oil and gas companies
cated. In addition to its important role in develo- including Petroguin E&P, Oryx Petroleum,
ping regional cooperation in the oil and gas sec- CNOOC/NEXEN, Tender Oil &Gas SARL best
tor, the AGC also plays a role in two other highly petroleum among others. A future bidding round
strategic sectors for both countries, which are could attract even more players to the offshore
mining and fisheries. Guinea- Bissau is undoub- blocks managed by the AGC. Today, following the
tedly one of Africa’s richest countries when it co- various large-scale discoveries that took place in
mes to natural resource endowment. There are the offshore waters of Senegal (SNE, SAGOMAR)
significant deposits of bauxite and phosphates in and the border with Mauritania (GTA) FROM
the country. 2014 - 2017, there has been renewed interest
Petroleum Operations in the AGC zone began in throughout the region in developing the hydro-
1958 with the Compagnie des Petroles Total Afri- carbon potential of the MSGBC Basin, which is
que de l’ Ouest (COPETAO) in Senegal and the still largely Underexplored. The offshore blocks
EXXON company in Guinea- Bissau. Initially, that the AGC is in charge of managing and pro-
Petroleum Operations focused on salt domes moting for future bidding rounds currently have
(Dome Flore and Dome Gea) characterized by many medium-sized E&P companies analyzing
structural traps. These operations led to the dis- the seismic data obtained and prospecting for oil
covery of heavy oil deposits on the Dome Flore in and gas. But both Guinea-Bissau and its partners
1967 and on the Dome Gea in 1971. In 1991, in Senegal are interested in attracting new inves-
Casamance Petroleum Ltd obtained the hydro- tors, and potentially partnering with IOC’s to help
carbon exploration permit known as the Dome potentially finance, a more aggressive explora-
Flore Permit and acquired a set of 3D seismic da- tion and drilling campaign. In response to the
ta (300km), on the Dome Flore and the Dome Gea growing demand for renewable power, and inc-
in 1971. This permit expired in 1994 and the area reasing interest by international stakeholders to
was subsequently reassigned to the pectin com- invest, develop, and succeed in Africa, Energy
pany, which drilled a shallow exploration well Capital & power will hold the MSGBC Oil, Gas &
called “Baobab-1” on the eastern flank of Dome power 2021 conference and exhibition 2-3 De-
Gea in 1996. cember 2021. It will focus on enhancing regional
This drilling encountered evidence of oil from partnerships, spurring investment and develop-
1997 to 1999, the AGC undertook seismic studies ment in the oil, gas, and power sectors. The con-
followed by a vast campaign to promote the blo- ference will unite regional international stake-
cks of the deep offshore of the common zone in holders with African opportunities, serving as a
which the AGC facilitates cooperation between growth-oriented platform for Africa’s energy
Senegal and Guinea Bissau. Following this pro- sector.
motion campaign, two hydrocarbon exploration

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