Trans­par­ent, sus­tain­able and in­clu­sive ex­ploita­tion

The Africa Report - - BRIEFING -

To meet new stakes and chal­lenges, Pres­i­dent Mac ky S all setup the Strate­gic Oil and Gas Steer­ing Com­mit­tee (Cos-pétrogaz) in De­cem­ber. He chairs this strate­gic steer­ing com­mit­tee, which as­sists the gov­ern­ment in the def­i­ni­tion, su­per­vi­sion, eval­u­a­tion and con­trol of state pol­icy in the devel­op­ment of oil and gas projects, in con­junc­tion with the Emerg­ing Sene­gal Plan. His per­ma­nent sec­re­tary, Mr. Ous­mane Ndi­aye, a high-level and well-known fig­ure in Sene­gal’s na­tional oil com­pany Petrosen, is as­sisted by Mr. Ma­madou Fall Kane, trained at the Ecole Polytech­nique de Paris.

Re­sources “for the ben­e­fit of the peo­ple”

One of the main ob­jec­tives of COSPét rog az is“to pro­mote the op­ti­mal op­er­a­tion of our oil and gas re­sources for the ben­e­fit of the pop­u­la­tion”, ex­plained the Pres­i­dent of the Repub­lic af­ter the set­ting up of the com­mit­tee. Key to achiev­ing this are: “Trans­parency and ac­count­abil­ity, rig­or­ous, in­clu­sive and sus­tain­able man­age­ment.” Cos-pétrogaz is thus strength­en­ing over­all trans­parency in the man­age­ment of nat­u­ral re­sources, fol­low­ing Sene­gal’ s join­ing the Ex­trac­tive In­dus­tries Trans­parency Ini­tia­tive (EITI) in 2013.

An oil code un­der re­view

In or­der to com­plete the ad­min­is­tra­tive frame­work for the sec­tor, the Pe­tro­leum Code, which has reg­u­lated the hy­dro­car­bons sec­tor since 1998, is cur­rently b e i n g rev i s e d . T h e n e w mini n g co d e , re­vised and adopted in 2016, pro­vides for pro­duc­tion shar­ing con­tracts, pro­motes lo­cal devel­op­ment, in­creases trans­parency re­quire­ments and changes the way roy­al­ties and taxes are cal­cu­lated.

A train­ing in­sti­tute for sus­tain­able hy­dro­car­bon man­age­ment

In De­cem­ber last year Cos-pétrogaz an­nounced that they would be se ng up a Na onal Oil and Gas Ins tute (INPG). Its con­struc on in Di­amnia­dio will take just over a year, at a cost of 20 bil­lion CFA francs, half of which has al­ready been made avail­able by the oil com­pa­nies. The INPG will train en­gi­neers, through a 2-year Masters in pe­tro­leum en­gi­neer­ing, and tech­ni­cians (pla orm op­er­a­tors) in ini al train­ing. On­go­ing job train­ing will also be pro­vided to civil ser­vants and pri­vate pe­tro­leum sec­tor play­ers (law, eco­nomics, nance, etc.).

Pay at­ten­tion to en­vi­ron­men­tal im­pact

Sene­gal is keen to align it­self with the most strin­gent in­terna onal stan­dards in terms of so­cial and en­vi­ron­men­tal pro­tec on, so that the ex­ploita on of hy­dro­car­bons does not com­pro­mise any other eco­nomic ac vity, es­pe­cially shing. Cos-pétrogaz will thus en­sure that the re­cent cons tu onal rights of the pop­ula on over nat­u­ral re­sources are re­spected.

Model of the planned Na­tional Oil and Gas In­sti­tute.

Of cial set­ting up of Cos-pétrogaz.

Sign­ing the agree­ment at the IFPEN, former French Pe­tro­leum In­sti­tute.

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