Guinea’s Energy Potential on Display: SONAP Highlights Investment Opportunities at IAE 2024 Forum

Société Nationale de Pétroles (SONAP) to Present Guinea’s Energy Opportunities at Invest in African Energy (IAE) Forum

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Guinea-Conakry is set to showcase investment opportunities in both upstream exploration and downstream infrastructure projects at the forthcoming Invest in African Energy (IAE) forum. Amadou Doumbouya, Managing Director of the National Petroleum Company (SONAP) of Guinea-Conakry, will address potential investors and highlight the country’s untapped potential in offshore and onshore acreage.

Following the merger of ONAP and the National Petroleum Import Company in 2021, SONAP was established to streamline operations across the upstream and downstream sectors. This strategic move underscores Guinea’s commitment to enhancing efficiency and fostering synergy along the energy value chain. Investors attending the IAE forum will have the opportunity to explore both upstream and downstream prospects with SONAP.

Organized by Energy Capital & Power, the IAE 2024 forum serves as a premier platform for facilitating investment between African energy markets and global investors. Scheduled for May 14-15, 2024, in Paris, the event will feature two days of extensive engagement with industry experts, project developers, investors, and policymakers. For more details, please visit www.Invest-Africa-Energy.com or contact sales@energycapitalpower.com to inquire about sponsorship or delegate participation.

Guinea-Conakry is currently finalizing bidding terms for a proposed 22-block licensing round, expected to attract interest from international exploration and production (E&P) companies seeking to replicate successes observed in neighboring basins. While commercial discoveries are pending, significant exploration activities have been undertaken, including deepwater drilling efforts by exploration companies such as HyperDynamics and TotalEnergies. The country’s commitment to renewed exploration is underscored by its Natural Resources Charter Precept 3, emphasizing the importance of expanding geological knowledge in offshore areas.

In June 2023, SONAP inaugurated the nation’s first national seismic data visualization center in collaboration with technical partners SLB, TGS, and PGS. This center provides direct access to comprehensive seismic data, comprising 2D/3D seismic lines, thereby facilitating fundraising for future exploration initiatives. With substantial seismic coverage already available, Guinea aims to enhance its exploration efforts by acquiring extensive 3D seismic data in offshore regions, complemented by gravity and magnetic surveys onshore.

The IAE forum will serve as a platform to present upcoming investment opportunities in Guinea’s energy sector, enabling European E&P firms to engage with exploration prospects through SONAP. Additionally, West Africa LNG (WLNG) Group recently secured equity financing for the construction of a $300 million LNG terminal in Guinea-Conakry, set to supply gas to mining companies for power generation purposes in the Boke, Bel-Air, and Boffa regions.

As SONAP continues to promote investment in upstream oil and gas, the IAE 2024 forum will facilitate discussions on competitive investment terms, exploration progress, and forthcoming opportunities. By connecting global investors with African projects, the event aims to catalyze investment and drive economic growth in the region.

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