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Global energy companies are intensely evaluating Mauritania and the country is being recognised as one of many African countries receiving this kind of attention. Mauritania is said to experience substantial, if not the most, oil and gas discoveries.
It is estimated that Mauritania has one billion barrels of oil reserves, second only to Nigeria in the continent. New oil discoveries such as Banda in 2002, Pelican and Tiof in 2003, Tevet in 2004 and Faucon in 2005 has spurred renewed interest.
Mauritania is highly under-explored with just 1.7 wells historically per 10,000 square kilometers of licensed acreage and even though first explorations were disappointing, 3D seismic technologies have improved discoveries by 50%.
Even though Mauritania has considerable potential, it will take peer-leading explorers to locate the reservoirs. Tullow opened a Mauritania office in March as it prepares for a four-well exploration program and increased operational activity in the country.