Guinea-Conakry’s National Petroleum Agency (SONAP) to Connect Investors to Guinean Projects at MSGBC Country Spotlight During African Energy Week (AEW) 2024

Poised to showcase ongoing project developments, future investment opportunities and emerging partnerships, the Invest in MSGBC Energies country spotlight at this year’s African Energy Week (AEW): Invest in African Energy 2024 will explore the region’s promising upstream acreage, integrated infrastructure projects and future-oriented development plans.

Sponsored by engineering and technology company Technip Energies, the Invest in MSGBC Energies spotlight will feature the participation of the Director General of Guinea-Conakry’s National Petroleum Agency (SONAP) Lanciné Conde. The roster of high-level speakers will also include Senegal’s Minister of Energy, Petroleum and Mines Birame Souleye Diop and representatives from major companies operating in the region including Kosmos Energy, Golar LNG, Technip Energies and AGL Energy.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

Guinea-Conakry is currently finalizing the terms of its 22-block bid round, which is expected to bring new players into the market and incentivize exploratory drilling. To date, five prospect wells have been drilled in the country’s acreage, which is located near existing commercial discoveries in Ivory Coast, Senegal and Mauritania. Under SONAP – which was established in 2021 to integrate the country’s upstream and downstream sectors – Guinea-Conakry is well-positioned to promote its hydrocarbon potential to foreign investors.

To improve the geological knowledge of the country’s on- and offshore blocks, SONAP recently established the first national seismic data visualization center, alongside partners SLB and TGS. The center provides unparalleled access to 15,000km2 of 3D seismic and 45,000km2 of 2D seismic data, serving to attract new explorers, identify leads and de-risk future exploration. SONAP is seeking technical partners to acquire further 3D seismic in offshore regions, along with onshore gravity and magnetic surveys.

While a commercial discovery is yet to be made, five prospect wells have been drilled in the country to date, with exploration and production company HyperDynamics and later supermajor TotalEnergies exploring in deep and ultra-deep waters. Under Guinea-Conakry’s Natural Resources Charter Precept 3, renewed exploration is a key priority for the country, and efforts are underway to improve geological understanding offshore.

“The abundant potential of Guinea-Conakry’s energy landscape cannot be overstated. This is evident in SONAP’s earnest quest to drive sustainable exploration and production activities in the country. By skillfully navigating the complex intricacies of the industry while fostering strategic alliances, Guinea-Conakry can seamlessly propel itself towards attaining energy security, a fundamental pillar in unlocking economic prosperity and socioeconomic development,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.

As SONAP continues to promote investment in upstream oil and gas, Conde’s participation during the Invest in MSGBC Energies country spotlight at AEW: Invest in African Energy – taking place in Cape Town from November 4-8 – is set to facilitate discussions around competitive investment terms, exploration updates and upcoming opportunities.

Distributed by APO Group on behalf of African Energy Chamber.