Posted by Aydanur Akkurt - Africa Oil & Power
Cape Town, South Africa, 3 October 2019 — Showing no signs of slowing down, Senegal is emerging as a key player in the global energy sector. Led by H.E Macky Sall, President of the Republic, the West African nation is a shining example of how African countries can #MakeEnergyWork and benefit from leveraging their hydrocarbon potential to drive greater economic growth.
Acknowledging these concentrated efforts, this year Africa Oil & Power (AOP) will honor President Sall with the acclaimed Africa Oil Man of the Year award for his dedication and determination to transforming the country's energy sector and ensuring that Senegal and its people directly benefit from this development.
Last year, OPEC Secretary General, H.E. Mohammad Sanusi Barkindo received the Africa Oil Man of the Year award for commanding the organization through the oil price decline and restoring market stability through the landmark deal to cut oil production.
“Senegal is determined to build a thriving petroleum industry. With each project coming online, discoveries, regulatory frameworks developed and efforts to drive further investment, we see more and more that the country is undaunted by the task of making energy work in order to achieve prosperity,” said Guillaume Doane, CEO of Africa Oil & Power.
“Under the leadership of President Macky Sall, the country has grown in leaps and bounds, attracting an escalated investment interest from global investors. Locally, African countries can only be inspired by the administration's steadfastness. It is for this reason that President Sall will receive that Africa Oil Man of the Year award with great merit.” Doane added.
While Senegal's success has been in the making for some years, since the Grand Tortue Ahmeyim gas field discovery in 2014, subsequent large-scale finds and the launch of the Plan Senegal Emergent Initiative, 2019 has been a time for intense growth and advancement for the country.
The International Monetary Fund (IMF) expects the country to achieve six percent growth this year and accelerated growth from 2022, once commercial production on its major hydrocarbon projects begins.
“Between 2020 and 2021, the West African country's GDP is expected to grow by seven percent driven by private investment and inflation is forecasted to remain low in the mid-term,” the IMF said.
Among other achievements, Senegal kicked off the year by adopted a new petroleum Bill and announced that it expects to reach a final investment decision on the world-class SNE oil field in 2019, with the first phase development achieving first oil in 2022, majors BP and Kosmos Energy confirmed a large-scale gas find in the country's offshore.
Senegal is also set to launch its next oil and gas licensing round the 2019 AOP conference, taking center stage as a figurehead for Africa's strong voice, empowered by its resource potential.
Built on the theme #MakeEnergyWork, AOP 2019 will challenge industry executives to provide key insight on what it will take for Africa to thrive using its resources as a pillar for growth.
Hosted at the world-class Cape Town International Convention Centre (CTICC) on October 9-11, AOP will unite investors, national oil companies, state-owned enterprises, deal makers and companies operating in the oil, gas and power sectors.
Learn more and register at www.aop2019.com
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