Mauritania’s BirAllah Gas Field: A Revolutionary Development In West Africa’s Gas Sector

The BirAllah gas field is expected to produce 10 million tons of LNG per year creating new employment opportunities and generating a substantial income for Mauritania.

NOUAKCHOTT, Mauritania, April 20, 2023/ — Mauritania’s BirAllah gas field, located in the Mauritanian coastal basin, has garnered significant attention from major players in the oil and gas industry, including Bp and Kosmos Energy, due to its immense investment potential.

In October 2022, a deal was signed between the Mauritanian government and these industry giants, setting the stage for the exploration and development of this promising prospect, which is estimated to hold 80 trillion cubic feet of gas.

As per the agreement, Bp will conduct comprehensive studies to enable the field’s development to commence within 36 months. The stakeholders are hopeful that these studies will establish the feasibility of establishing companies to exploit the project in the strategic port area of Ngago, located in southwest Mauritania, which is the closest coastal point to the field.

The BirAllah gas field possesses numerous attributes that makes it an attractive investment opportunity. It boasts a well-defined structure, high-quality reservoir properties, and top-grade gas. Moreover, the field has the potential for significant production rates, with initial estimates suggesting it could yield up to 4 billion cubic feet of gas per day.

The development of the BirAllah field is of significant importance to Mauritania’s gas industry (https://apo-opa.info/3UTUPmb), which has faced challenges in attracting investment in the past due to political instability and inadequate infrastructure. However, the discovery of the BirAllah field has the potential to change this narrative, as it represents one of the largest offshore gas discoveries in Africa in recent years.

The participation of prominent global companies such as Bp and Kosmos Energy in the BirAllah field underscores the immense investment potential of this oil field. These prominent global companies not only bring substantial capital but also possess the expertise and advanced technology required for unlocking the BirAllah gas field’s maximum development potential. Furthermore, this development is expected to attract additional international oil companies (IOCs) to invest in Mauritania’s gas industry, signalling to the world that Mauritania is a viable investment destination, potentially leading to further exploration and development of the country’s abundant gas reserves.

According to the International Trade Administration, the energy sector offers some of the most promising investment opportunities in the market. Bp and Kosmos Energy are poised to lead the charge in transitioning hydrocarbons as the driving force of Mauritania’s economy, surpassing iron ore. Currently, several supermajor oil and gas companies are exploring offshore Mauritania, with 22 blocks available for leasing. Additionally, there are opportunities for developing fields where oil has already been discovered, as well as providing supplies and logistical support to companies operating within the sector, presenting attractive investment prospects.

The completion of the BirAllah field, projected to take place over multiple years, has the potential to be a game-changer for Mauritania’s economy. The first gas exports from the field could be facilitated through the Ngago port area, which boasts the necessary infrastructure, including a deep-water harbor, access to electricity and water, and proximity to major shipping lanes, to support the construction of a gas terminal. The substantial revenue generated from gas exports has the potential to significantly bolster Mauritania’s economy, providing a fresh source of income for the country. Additionally, the development of the BirAllah field has the potential to create new employment opportunities and support the growth of local businesses in the region.

The development of the BirAlla gas field is also expected to create new job opportunities and generate income for Mauritania. This vast reserve of energy promises to power the world and transform the fortunes of the country. With the estimated output of 10 million tons of liquefied natural gas per year, the BirAlla gas field represents an opportunity to boost economic growth and create a more prosperous future for Mauritania.

Join us (https://apo-opa.info/41JJyHn) in Nouakchott, Mauritania on 21-22 November 2023 for the third edition of the MSGBC Oil, Gas & Power Conference & Exhibition (https://apo-opa.info/3LgiTwm) where we will unpack investment and exploration potential under the theme “Scaling Energy Opportunities in Africa’s New Frontiers.”

Organized by Energy Capital & Power, MSGBC Oil, Gas & Power 2023 will unite the region’s energy policymakers, companies and investors with global counterparts to discuss and optimize investment opportunities within the energy market.

Distributed by APO Group on behalf of Energy Capital & Power.

SOURCE

Energy Capital & Power

The longer the pandemic stays, the more expensive the recovery will be. So, the government would need to spend more now to cut the waiting period, because every minute comes with a steeper recovery cost. This crisis is unique and by far different from the 2008 economic crisis. Now let’s analyze these questions, can the Nigerian government bear these costs and what’s the Nigerian best bet? How to manage the coronavirus economic crisis and how different the current economic crisis is from the 2008 global recession?

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More than half of the total jobs in Nigeria is being lost, people lose their jobs without social protection and are being asked to stay at home. Income losses are estimated to amount to at least N3 Trillion in Nigeria alone in just a matter of a few months. Investment is rapidly going down. Factories have shut down, even factories that insist on production in this period could not operate as their workers decided to stay at home for their safety despite the bonus offered to them, and this led to scarcity and hence Inflation.

The economic paralyses are spreading even faster than the pandemic. The effects of these and many other economic paralyses caused by the novel coronavirus will leave a scar and reverberate around economies even in the aftermath of the pandemic.

The gap is getting wider, it requires refill by the day. The financial contributions made so far in Nigeria by public and private individuals and organizations to fight the coronavirus, which amounted to over N30 billion, is an opportunity to start somewhere, at least, to contain the disease, fund development of the testing kits and maybe fund researches for the development of its cure. This is a period where external intervention may be limited because every country is concerned about their health and economic uncertainties.

How to manage the economic crisis caused by the coronavirus is by far different by how we managed the world economic recession back in 2008. The 2008 global recession was a normal economic cycle that happens at least once in a generation and it was seen coming. It was more of the effect of human errors and decisions, and it was caused by variables within the economy. During the 2008 recession, the economy was not shut down, it was active. So, the aftermath bailout and other injections were smooth, and the time lag was not that long.

In contrast, the recession caused by the coronavirus is external to the economy, unexpected, very fast and more severe. It also put the economies on hold, and at the same time spending a lot to keep it on hold. The money that could be used to revive the economy has to be spent to fund the management of the pandemic and for social protections during the economic hold on. The loss of jobs in the current crisis is 10 times more than the 2008 economic crisis. Similarly, in the 2008 crisis, the oil price did not plummet to as far low as below $20 per barrel as it is now, the lowest it reached then was $32 per barrel, so, there were some reasonable revenues to fund that recovery. The current crisis came with two punches, a sharp increase in demand for government spending and a deep decline in government revenue. So, when we eventually come out of this pandemic, are we going to have the energy to go for another war, the economic war?

The effects of these shutdowns and lockdowns will echo after the pandemic and might cause some social and economic unrest, which require redress too. So, the government needs to spend more money this time around to recover the economy as an economic stimulus. Other countries would be focused on reviving their economy too, every country will be on their own. According to the United Nations, developing countries would need a $2.5 trillion COVID-19 rescue package to revive their economies. For Nigeria, at least a $100 billion rescue is required.

Our best bet in Nigeria is to do our best to stop the spread because the more it spreads, the longer it lasts, and the more we expose ourselves to graver dangers ahead. So, it is cheaper for us to do everything possible to end the pandemic in just a month, let us target the end of April. However, with the increasing rate of new cases, it is not encouraging.

Everyone has to take this pandemic as a personal economic threat because it is a trap, we all fall in. Think about Taxi and bus drivers, restaurants, hotels, barbers, airlines, social and sporting centers, and other informal and semi-formal businesses in this period, it is a catastrophe. Our individual and collective economies are severely affected by the day, and if it continues there will be chaos, a bigger catastrophe. Closing down the economy longer might lead to even bigger problems. The Swedish relaxed approach can be considered in Nigeria as soon as possible.

I would like to commend the efforts of health authorities for their efforts so far, and I want to implore them to make judicious use of the resources contributed. In this case, it must not be the Nigerian way, because it is a matter of life and death. The President needs to be more proactive and work closely with the task force to supervise the operation and receive minute by minute updates. The visibility is not necessary, but in the period of crisis and uncertainty, people need to be seeing and hearing from their leaders for more partnerships, hopes, and psychological stability. We are in a war, a health and economic war, our commanders-in-chief need to be more proactive in the period of war.

Dr. Ahmed Adamu

Petroleum Economist, Nile University, Abuja.

Nigeria

Tag: oil and Gas

Mauritania’s BirAllah Gas Field: A Revolutionary Development In West Africa’s Gas Sector

The Economic Trap of Coronavirus in Nigeria – Ahmed Adamu, PhD