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INVESTMENT 2023 start of production slated for BP’s $4.8bn
trans-national Senegal-Mauritania Grand Tor-
Mauritania Energy Ministry tue/Ahmeyim field. Gas-to-power (GTP) works
connected to Banda field could commence as
and NOC join forces with early as 2024.
Last year, ECP conferences saw $2.5bn worth
ECP to promote investments of deals signed, and this year’s MSGBC Oil, Gas
& Power event will attract investment delega-
On Monday, April 25, Sandra Jeque, Interna- tions from the United States, Australia, Europe,
tional Conference Director for Energy Capital & Asia and the Middle East. With the event’s theme
Power (ECP), an Africa-focused global leading being “The Future of Natural Gas: Growth Using
investment platform for the energy sector, met Strategic Investment and Policymaking,” Mauri-
with Ahmed Vall Mohameden, Adviser to the tania can expect to see wide-reaching interest in
Minister for Co-operation and Communication its new offshore blocks from corporate investors
to forge a partnership for the promotion of Mau- across Africa and abroad as the MSGBC region’s
ritania’s energy sector. With ECP’s flagship West “gas rush” gathers steam. The conference will be Leon’s further loan will increase to $2.5mn. This
African event, the MSGBC Oil, Gas & Power opened by Macky Sall, President of the Republic increased loan will continue to be made via
Conference approaching, the Ministry, state of Senegal and elected Chairperson of the Afri- 10% per annum unsecured subordinated loan
NOC la Société Mauritanienne des Hydrocar- can Union, who has himself often advocated for notes of Decklar on the same repayment terms
bures (SMH) and ECP will form a single strategy stronger regional co-operation for development, as originally announced on September 1, 2020.
for the promotion of offshore blocks in Maurita- as a powerful supporter of gas exploitation for Furthermore, the extension gives San Leon addi-
nia leading up to and throughout the conference development and for a just African energy tional time to assess the fundamentals of Oza,
and exhibition. transition. given that Decklar Resources Inc has today made
During Monday’s talks, Vall Mohameden ECP’s Jeque also met with Toura Abdel Baghi, an announcement that notes that the re-entry of
stated: “African countries should stop acting Director General of SMH, and Chemsdine Sow the Oza-1 well in the Oza oilfield in Nigeria has
alone and instead join forces towards the energy Deina, Director of Exploration at SMH. All par- converted several hydrocarbon zones from con-
transition, building bridges of transnational ties reaffirmed the need for investment to tap the tingent resources to reserves, prior to San Leon
co-operation for a more resilient regional grid.” country’s rich natural reserves and the potency deciding whether to take up the option.
As with continental energy leaders Morocco and of public-private partnership in this regard: a The extension also enables completion of San
Côte d’Ivoire, Mauritania is investigating the subject top of the agenda for MSGBC Oil, Gas Leon’s proposed further investment in Oza to be
potential of green hydrogen for a decarbonized, & Power 2022. more in line with the proposed timing for the
low-cost, reliable power supply. The country In Jeque’s words: “West Africa’s power sector entering into of binding conditional transaction
also boasts world-class solar and wind reserves, is at a tipping point where new major devel- documentation in relation to the proposed reor-
producing the MSGBC region’s second highest opments could see the MSGBC countries and ganisation to consolidate Midwestern Oil and
volume of renewable energy per capita at 27.535 economies thrive. We need robust strategies Gas Company’s shareholdings in: i) the Com-
Watts, yet still actively seeks to expand its works and unification of stakeholders to bring out this pany; and ii) Midwestern Leon Petroleum into a
in this space. transformation, wherein the MSGBC confer- single shareholding in the Company, which also
Indeed, renewables represent only one-quar- ence will act as the keystone in these nations’ comprises, inter alia, a proposed consolidation
ter of total fiscal energy consumption for Mau- investment and development drive.” of Midwestern’s indirect debt and equity inter-
ritania, bioenergy being the largest contributor Energy Capital & Power, May 1 2022 ests in Energy Link Infrastructure (Malta) (ELI)
to this, followed by wind and solar. With the with those of the Company, as well as further
COP 27 conference approaching, hosted by San Leon Energy announces new debt and new and existing equity invest-
Egypt this coming November, the MSGBC Oil, ments to be made by San Leon in ELI, updated
Gas & Power event represents a crucial chance extension, update to deal details of which were most recently announced
for key West African stakeholders to reconnect on April 29 2022. All other terms of the Compa-
following COP 26 Glasgow’s events, unifying for Nigeria’s Oza field ny’s investment in Oza remain unchanged.
their energy narrative for the region in solidar- San Leon Energy, May 3 2022
ity. MSGBC nations like Mauritania face a per- San Leon Energy, the independent oil and gas
ennial issue in balancing the respective goals of production, development and exploration com-
energy decarbonization, supply volume and cost pany focused on Nigeria, has announced the fol- PERFORMANCE
mediation. lowing extension to the timing of its follow-on
Mauritania has a record 28 new offshore investment in the Oza oilfield in Nigeria. South African airport
blocks open for bids from interested parties, On January 27, 2022, San Leon announced
numbered 1 through 36 and surrounding the certain amendments to the terms of its invest- manager assures of
existing C-7, C-8, C-10, C-12, C-15 and C-31 ment in Oza, which included an option to pro-
blocks operated by BP, Cairn, Shell and TotalEn- vide a further loan of $2.0mn to Decklar by April sufficient jet fuel supply
ergies. This is a rich region for upstream exploita- 30, 2022, to increase its shareholding in Deck-
tion with proven reserves, such as the 13 trillion lar Resources from 11.5% to 15% (or otherwise Airports Company South Africa (ACSA) says
cubic feet of natural gas discovered in C-8’s accept the pro rata reduction in its sharehold- the supply of jet fuel for airlines flying in and out
BirAllah field and further 1 trillion cubic feet ing to 11.5%). San Leon and Decklar have now of OR Tambo International Airport, the busiest
in the Banda field. Discussions are underway agreed to extend the time period for providing airport on the continent of Africa, is stable and
with regards to fast LNG development, with a this loan to June 30, 2022 on the basis that San sufficient to meet demand.

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