Energy Capital & Power

Technip-COS Petrogaz MoU Indicates Penetration of Senegalese Local Content – African Business

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French engineering and construction company, Technip Energies, has announced a major partnership with government agency La Comité d’orientation stratégie du pétrole et du gaz (COS Petrogaz). A Memorandum of Understanding (MoU) was signed between the two parties on May 25 and details an intent to implement knowledge transfer initiatives to build local capacity in technologies related to water, oil and gas processing engineering, onshore platform function and maintenance, along with offshore gas field management principles and energy transition. In addition, Technip will conduct national studies as key contributions to the government’s gas development strategy.

This development represents a positive step for both PPPs and local content in Senegal at the start of the gas rush. Among the projects slated for next year, the transnational Torto Ahmeim (GTA) development project containing 15 trillion cubic feet of natural gas, jointly developed by the oil giant, BP and US oil company, Kosmos Energy, is currently completed 75 %. 2.5 million tons per year of LNG is scheduled to be produced late next year. In addition, the Sangomar field, owned and operated by Australian giant Woodside Energy, will also start operating next year when producing 100,000 barrels per day of oil.

Of course Senegal (https://bit.ly/3x394JU) is already creating local content )https://bit.ly/3M65aph) is advancing its latest legislative reforms that took effect in February of last year. In this regard, the amended Petroleum Law requires companies in the sector to submit annual content plans that justify any international subcontracts.

Moreover, the newly formed National Local Content Monitoring Committee is striving to achieve a 50% local content percentage for Senegal by 2030, and the widely praised tripartite system that holds some business for Senegalese companies has made significant progress towards this end .

However, this week’s announcement of a Technip-COS Petrogaz Memorandum of Understanding represents another important step in providing robust training programs for Senegalese nationals to gain skills for effective participation in the industry.

The MoU ensures not only a strong and continuous local presence of the multinational Technip, but also the relentless pursuit of natural gas development for the benefit of the Senegalese people and economy. As a fuel, gas has a carbon footprint of 70% less than that of conventional heavy fuel oils while still retaining the crucial benefit of scalable development over some renewable energy sources, contributing to the goals of the emerging Senegal Plan specifically through the goal of ensuring universal access at affordable prices. , reliable electricity across the country by 2030. Thanks to massive gas developments such as the GTA project, Senegal’s GDP is expected to witness robust growth in the coming year.

Technip itself has a long history in the country, currently overseeing upgrades to the Mbao SAR oil refinery facilities that process 1.2 million metric tons of crude oil annually, covering a significant portion of the country’s demand. Technip also owns the engineering, procurement, construction, installation and commissioning (EPC) contract for the GTA floating production storage and offloading unit. While COS Petrogaz was recently launched by His Excellency President Macky Sall in 2016, their counterparts at Technip Energies have over 60 years of experience in 34 countries.

Join Technip, COS Petrogaz, and dozens of other high-profile players in the region’s emerging energy industry at the MSGBC Oil, Gas & Energy 2022 Conference and Exhibition (https://bit.ly/3Q5kKoq) to be held from 1 to 2 September this year under the auspices of His Excellency Mr. Macky Sall, President of Senegal and President of the African Union, at the world-famous CICAD venue in Dakar. Among the unparalleled networking and funding opportunities with African delegates and delegations from across Europe, the United States, Asia and the Middle East will be sessions dedicated to GTA mega development, local opportunities and more. To register visit (https://bit.ly/3Q5kKoq).

Distribution by APO Group on behalf of Energy Capital & Power.

About the MSGBC Oil, Gas & Power Conference 2022:
Under the patronage of His Excellency Mr. Macky Sall, President of the Republic of Senegal, the MSGBC Oil, Gas and Energy will be held again in Dakar, Senegal, where this event serves as a catalyst for multi-sector investment and development in 2022. To find more information visit MSGBCOilGasAndPower.com or contact [email protected].

This press release was issued by the APO. The content is not monitored by the editorial team at African Business and the content has not been checked or validated by the editorial teams, scrutiny readers or fact-checkers. The issuer is solely responsible for the content of this advertisement.

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