President Sall wants to reform the administration of Senegal’s oil sector

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or an oil sector that is efficient and fully benefiting the economy, it is necessary to have efficient administration on the part of the public authorities. This is what President Macky Sall advocates, and will soon be carrying out reforms in this direction.

At a virtual conference with the Council of Ministers on 17 February, Senegalese President Macky Sall (pictured) said that a transformation of the organisation, management, implementation and evaluation processes in the national oil and gas sector is essential. This, he said, will allow for more efficient administration of the sector.

Thus, the Head of State wished that adequate supervision of the projects by the ministers and the parapublic bodies concerned should be put in place. Among these, the Ministry of Petroleum is called upon to work to modify information notification systems and to implement a coherent communication strategy on oil and gas management.

The national oil company PETROSEN will finalize production sharing contracts and cooperation agreements with operators, in order to promote the inclusion of the private sector and local industries.

The Department of Finance and Budget was asked to complete the oil and gas revenue sharing bill by the end of March 2021.

Macky Sall also stressed that the government could support the effective creation of the National Institute of Oil and Gas and formalize regulations on education and training in the sector, in order to develop human capital and facilitate the transfer of knowledge, skills and technologies.

Senegal is not yet one of the countries producing black gold, but is preparing to join this list by 2023 thanks in particular to the Sangomar project. In the gas segment, the Grand Tortue gas field development project, located straddles the Senegalese-Mauritanian maritime waters, is also expected to boost economic development.

 

Source: Agence Ecofin

The post President Sall wants to reform the administration of Senegal’s oil sector appeared first on Energy News | Oil and Gas News.

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