Mali woos investors to join oil and gas potential

Dec 01, 2006 01:00 AM

Mali has invited African and foreign investors to join the country in exploring its oil and gas potential.
The invitation was extended to participants at the 2006 African Oil and Gas Forum, organised by the US-based Corporate Council on Africa (CCA), in Bethesda, near Washington DC, US. The forum is focusing on the changing realities of the oil and gas market in Africa.

Malian Minister of Mines, Energy and Water, Hamed Semega and his counterpart in the Ministry of Investments, Ousmane Thiam, told delegates at the forum that Mali is set to promote oil and gas exploration in the country following findings of "untapped deposits".
"In so doing, we are introducing a preferential customs and tax system designed to attract national and foreign capital in production activities and services," Semega said at a reception hosted by the Malian delegation. He said that a high-level Malian delegation at the forum would showcase its "untapped resources" to investors, in a presentation entitled: "Investing in Mali Oil and Gas Potential".

Also, contributing to the salesmanship, the Ambassador of Mali to the US, Abdoulaye Diop, said that the Malian government was determined and committed to ensure the exploration of the oil and gas resources to open up business opportunities.
"The political will of the government is manifested in the new investment code we are introducing in that direction," Diop said. He also emphasised that the "favourable petroleum investment code will offer the guarantees required for investment security".

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