The Oil and Gas Policy Committee will be headed by Ousmane Ndiaye, a former general manager of Petrosen, the state oil company.
Petrosen might have only 10% share in SNE/FAN but they have a lion's share in the resolution of disputes and future operations... I think its worth a trip to the geological archives.. cheers
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Senegal: Macky Sall installs the strategic oil and gas policy committee
(Ecofin Agency) - Cos Petro-Gaz (Strategic Oil and Gas Policy Committee). In Senegal, it is the name of the team that will prepare and submit to President Macky Sall a bill that will optimize the revenues derived from the exploitation of hydrocarbon resources of the country. It was officially installed by the first official Of the country at the end of last week.
"The purpose of this bill is to plan the use of future resources, with a distribution key between what will go to the investment budget and the share reserved for future generations, which will be housed in the sovereign investment fund Strategy (Fonsis).With this in mind, the governance of Fonsis will be reorganized and its board of directors will be modified to include the representatives of these institutions. The Fonsis will make each year to the National Assembly review the resources available to it and especially the expected results, "said the Senegalese head of state.
In addition, the committee will oversee the various legal agreements and contracts between the State of Senegal and partners on funding, the achievement of petro-gas projects and marketing products,
SeneNews says. And to ensure transparency, Macky Sall announced that information about the contracts and what they generate will be regularly published.
The work of Cos Petro Gaz will be led by Ousmane Ndiaye, a former general manager of Petrosen, the state oil company. The national assembly, the ministry of energy or the judicial agent of the State will be involved in its management.
Olivier de Souza
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(20min delay)