SONAP to Connect Investors to Guinean Projects at Invest in African Energy (IAE) Forum

Source: www.gulfoilandgas.com 2/22/2024, Location: Africa

The Managing Director of the National Petroleum Company (SONAP) of Guinea-Conakry, Amadou Doumbouya, will speak at the Invest in African Energy (IAE) forum (www.Invest-Africa-Energy.com) this May. Doumbouya is expected to promote unexplored opportunities in off- and onshore acreage while introducing potential investors to domestic infrastructure projects.

A recent push by government to streamline industry operations saw the establishment of SONAP in 2021 with the merger of ONAP and the National Petroleum Import Company. Effectively integrating the upstream and downstream sectors, the creation of SONAP demonstrates the country’s commitment to improving efficiency through synergy across the value chain. Investors are able to discuss both upstream and downstream opportunities with SONAP at the IAE forum.

Organized by Energy Capital & Power, IAE 2024 is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 14-15, 2024 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

Bidding terms for a proposed 22-block licensing round in Guinea-Conakry are currently being finalized. The round is expected to generate interest by global E&P players who are looking at mirroring success seen in regional basins. 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 HyerDynamics and later supermajor TotalEnergies exploring deep and ultra-deep waters. Under Guinea’s Natural Resources Charter Precept 3, renewed exploration is a key priority for the country, and efforts are underway to improve geological understanding offshore.

SONAP established the first national seismic data visualization center in June 2023 alongside technical partners SLB, TGS and PGS. The center offers direct access to all 2D/3D seismic lines in the country, enabling SONAP to raise funds for future exploration initiatives. The country currently has 15,000 km² of 3D seismic and 45,000 km² of 2D seismic, offering crucial insight for potential investors.

Looking ahead, SONAP plans to acquire extensive 3D seismic coverage in offshore regions, as well as gravity and magnetic surveys onshore. The data will help identify potential leads and attract new players to the market. The IAE forum will showcase upcoming investment opportunities, connecting European E&P firms to exploration opportunities through SONAP.

Meanwhile, natural gas company West Africa LNG (WLNG) Group closed an equity financing round for the construction of a $300 million LNG terminal in Guinea-Conakry in August 2022. Launched in May 2022, the project comprises the development of an LNG receiving terminal at the Port of Kamsar in Boke region. Expected to open in the next three to six years, the terminal will supply mining companies in the Boke, Bel-Air and Boffa regions with gas for power generation purposes.

As SONAP continues to promote investment in upstream oil and gas, IAE 2024 will facilitate discussions around competitive investment terms, exploration updates and upcoming opportunities. Connecting global investors with African projects, the event offers a platform for engagement and deals.

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