Rig Visit, page-19

In addition to the oil rig visit, the Senegalese energy minister was also @ India – Africa Hydrocarbon Conference on January 21st & 22nd 2016. I wonder why Senegal would be represented at a hydrocarbon conference (unless of course the oil finds are commercial...) I wonder if Petrosen would be able to get a line of credit extended to them..


Shri Pradhan and his team with Minister of Energy of Senegal, Mr. Maimouna Ndoye Seck. Both sides agreed to begin cooperation in Oil & Gas sector in all streams.

Link : http://petroleum.nic.in/mopng-newsletters/current/news4.html

Interesting bits below

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Addressing the conference, Minister of Petroleum and Natural Gas (I/C) Shri Dharmendra Pradhan, spoke about how India apart from being an attractive market for crude oil and gas, would be an able partner for African nations across the industry value chain. He highlighted the importance of Africa in India’s Crude imports, with approximately 16% of our crude consumption being fulfilled by African nations.

Shri Pradhan also emphasised on the rapid growth of the African Hydrocarbon sector with new discoveries of Oil reserves growing by over 100% and gas reserves by over 55%.India on the other hand, has emerged as the fastest growing major economy in the world today with over 7% GDP growth. This puts Africa in a good position as an oil as well as gas exporter for India. Despite being a net importer of crude oil, India, with 23 refineries, has become a net exporter of petroleum products by investing in refineries designed for export. India has emerged as a refining hub with the fourth largest refining capacity in the world with 4.5% of world share.

In addition to this, Indian companies play an active role in Africa’s hydrocarbon sector, having a major presence in exploration and production segments with total investments of nearly US$ 7-8 billion in Mozambique, Sudan and South Sudan and some key Oil & Gas projects in **on, Libya & Egypt.

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India has also offered a concessional credit of $10 billion over next 5 years for African countries, calling upon public and private sector both in India and Africa to identify viable projects which can be financed and pursued through this line of credit.

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