Transparent, sustainable and inclusive exploitation
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.