Continental Focus, International Reach

Guinea-Bissau Looks to Senegal for Joint Exploration

Wednesday, August 8, 2018

Guinea-Bissau is negotiating with Senegal for a new agreement on joint exploitation of petroleum resources. A set of proposals were presented in the third talks between the countries, according to the head of Guinea Bissau’s delegation.

Apolinário de Carvalho, a high-level Foreign Ministry official and current ambassador of Guinea-Bissau in Brussels, stated that the Dakar talks had “gone well” and that the Guinea-Bissauan side had “explained to the Senegalese side that the historic mistake” of the division agreed in 1993 “has to be corrected.”

That decision allocated Senegal 85% and Guinea-Bissau 15% of revenue resulting from the eventual exploitation of hydrocarbons in the common area, or the AGC.

“We want a new agreement that reflects the interests of both countries,” de Carvalho said, cited by Lusa news agency. Guinea-Bissau “is nowadays better prepared” than in the past to defend its viewpoint, he stressed.

The delegations will meet again at the end of August, this time in Guinea Bissau, to finish the draft revision of the new resource sharing agreement for oil, gas and fisheries, which will be signed later by the leaders of the two nations.