Continental Focus, International Reach

Mali is Open for Business

Thursday, March 8, 2018

On the sidelines of CERA Week by IHS Markit, His Excellency Pr Tiemoko Sangaré, Minister of Mines & Petroleum, Republic of Mali, speaking with Dianne Sutherland, Publisher of Petroleum Africa and Board Member of Canadian independent Benica Resources said that the “conditions in Mali are ripe for investment.” Citing the much improved outlook for the oil industry with rising crude prices and a stabilized security situation in coordination with UN, French and American agencies, H.E. Sangaré is optimistic that new exploration deals will be made.

Mali held a roadshow at Africa Oil Week in October 2017 where the attributes of Mali’s geologic basins were highlighted to potential investors. In addition, Benica Resources in 2014 signed an Agreement with state parastatal AUREP authorizing it to negotiate on highly prospective oil and gas blocks in the Taoudeni Basin, including those once held by Italian major ENI and Algerian state firm Sonatrach. Both the Malian authorities and Benica are in ongoing discussions with potential investors interested in the Taoudeni Basin’s potential.