Senegal: the opponent Abdoul Mbaye requires publication of Cairn Energy and Kosmos Energy Contracts

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Senegal: the opponent Abdoul Mbaye requires publication of Cairn Energy and Kosmos Energy Contracts

Tuesday, 5 July 2016 24:46

(Ecofin Agency) - Abdoul Mbaye (photo), former Senegalese prime minister and member of the Alliance for Citizenship and Work (ACT) requires the authorities of Dakar that are made public "all provisions, without exception, of contracts exploration, already signed production of oil and gas or in the process of being to respect the rules of transparency in the governance of natural resources. " This request from the opponent has its legal anchorage, according to him, in the Senegalese constitution and any failure to do so would be considered an act of treason, may be subject to prosecution, reports www.sen360.fr .

Indeed, the ACT said they found a certain opacity in the negotiations between the State of Senegal and oil and gas companies operating in offshore such as Cairn Energy and Kosmos Energy have made oil extraction work whose discoveries will start shortly. The publication of these documents will answer some questions: is there a signing bonus of exploration and production contracts and, if so, what is the amount and who is the recipient? there is a production bonus paid to the state? if so, what is the amount?

ACT finally requires the state ensures the traceability of financial transactions related to the settlement of the rental fee, the distribution of rents, royalties, the state participation in the care of farm structures, and all taxes and duties which the companies concerned are subject, says our source.

Recently, Senegal has discovered large deposits of oil and gas, offshore, capable, according to analysts, to transform its economy and make it an energy exporter, 2020. President Macky Sall had assured his countrymen during his last speech on the state of the nation, that these resources would be exploited in the most transparent.
Olivier de Souza