Nouakchott, May 12th 2017 - Mauritania and French major company Total signed on Friday in Nouakchott the oil and gas exploration and production contract in block C7 of the coastal basin in Mauritania’s territorial waters.
The contract was signed on the Mauritanian side by the Minister of Petroleum, Energy and Mines Mohamed Abdel Vettah Ph.D and for Total, by Guy Maurice, Africa Director of the Group’s Exploration and Production Division, in the presence of The Ambassador of France accredited to Mauritania, HE Mr. Joël Meyer, in present of many officials in the oil, energy and mining sectors and the Total Group.
This signature marks the beginning of a new phase, with the entry into force in the circle of investment in Mauritania, of major global companies, in national hydrocarbons projects.
"Our country has offered favorable conditions to attract investments in various economic fields, including oil, energy and mining, through the establishment of an ambitious development strategy, with highly competitive investment opportunities in the Sub-region, "the minister said on that occasion.
"This strategy is based on transparency and security as well as simplified procedures, with taking care of investor’s protection, while ensuring that the country benefits from its natural resources, in addition the achievement of the necessaries infrastructure to ensure these conditions", he added.
"Mauritania, which has found a valuable partner with the major company Total, between today, through the signing of this contract, through the great door of the global circle of interest and investment in the field of hydrocarbons" , Said the Minister of Petroleum and Energy and Mines, in his speech for this event.
He also highlighted the important achievements made by Mauritania before becoming a destination for investors, expressing his thanks to the leaders of this global society and its wish for a growing and beneficial partnership for both sides.
The Representative of Total highlighted in his speech the significant competitive asset and the softened investment code found by the company in Mauritania, in addition to the relatively binding obligations made by the country in particular in the environmental field.
Mauritania is now offering a promising climate for business and investment, which has seduced the Total giant and made it one of the leading investment companies in this wonderful country, He concluded.