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Latest from the Government website for those interested. Poor translation being the norm ! :) ...

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xmagx

Mauritania: 26,9 % of growth in 2006?

According to International Monetary International Monetary Funds' "the IMF" the impact of the oil basket will generate an economic growth rate of 26,9 % in 2006 for Mauritania in real terms, and especially a significant reduction of inflation, against a growth of 5,4 % in 2005. This growth is explained, partly, by the oil, which will generate a sales turnover of 1 billion US $ per 18,6 million exported barrels. To announce in the same register that Mauritania will collect, in 2006, 22,5% of total revenues, that is to say only 180 million US $, between royalties and taxation. This growth has allowed the substantial increase in the wages of the civils servant in February 2006 and the launching of several projects economic and social in hibernation for several years. A mission of the IMF, envisaged at the end of April at the beginning of May, will be ensured of good the gouvernance posted by the government and the good management of this oil basket. It should be recalled that it is the Australian company Woodside Petroleum - a consortium made up of small companies which discovered the field of Chinguetti, since 1998, with 800 meters of depth of water, to 80 km with broad of Nouakchott the capital and 2.600 m of depth of the ground. The State Mauritanian has 12 % in the capital of the consortium, which invested 750 million US $ in 2005 to make Chinguetti exploitable.
In addition, currently, several oil companies start again exploration inside the country and the coasts Mauritanians (BG, Total, Respol, Dana, Petronas and other companies Chinese or mixed, as Baraka in which the Mauritanian Isselmou Tajedine would hold interests). This score of companies count on reserves from 3 to 5 billion barils/équivalent oil with a production of 300.000 barrels per day in 2010. Concurrently to Chinguetti, whose reserves are evaluated to 123 million barrels EP, it there A Banda with natural gas, oil Tevét and TIOF, with more than 1 billion barrels reserves. The current production already exceeded that of Tunisia and equal to that of Cameroun. All this is added obviously to the incomes generated by iron (250 million US $ per 11 million tons per annum), and the yearly rental which pay Euro pean Union for fishing (110 million USS). Nouakchott Information, N°961 of April 05, 2006


Oil: First Cargo of 980.000 barrels for China

A tanker charged with crude extracted the oil-bearing field from Chinguetti, with broad of Nouakchott, took Tuesday the direction of China where the loading will be sold for the first time with the profit of Mauritania, Tuesday announced the Company Mauritanian of hydrocarbons (SMH). This cargo of 980.000 barrels was negotiated with nearly 62 dollars the barrel, oil Mauritanian being in "rebate" of 4,5 dollars compared to Brent (oil of the North Sea) sold Tuesday between 66 and 67 dollars, announced the AFP Abouberkrine Ould Merouani, to director of the SMH.
A first tanker of 950.000 oil Mauritanian barrels had already left on March 21 for China, but it had been sold with the profit of the consortium of exploitation directed by the Australian company Woodside.
Mauritania began on February 24 to produce the crude oil on the field of Chinguetti, to 80 km in the south-west of the capital.
According to official forecasts', the government expects in 2006 an aggregate output of 18,4 million barrels, of which 35% (estimated at 200 million dollars) return to the State and the remainder to the consortium of exploitation directed by the Australian company Woodside. A dissension between Woodside and Nouakchott, which related to four endorsements signed by the company and the former minister for Oil, Zeidane Ould Hmeida, was solved on March 25 with Dubai, thanks to a mediation of the Plain Ar ab Emirates.
Following this agreement between the two parts, Woodside will pour with the country a "no-claims bonus" of 100 million dollars, pointed out the director of the SMH. Moreover, "if the price of the barrel exceeds the 55 dollars, the government Mauritanian will be entitled to 5% of extra profits", it continued.

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