Mauritania steps into limelight as Chinguetti is approved

THE CHINGUETTI offshore oil development is to go ahead, transforming the country's economic prospects and its importance as a hydrocarbons-producing country. Until now, all of the country's oil needs have been imported—a heavy economic burden given that oil accounts for some 99% of national energy consumption. Oil flows from Chinguetti, initially expected to amount to about 75,000 barrels a day (b/d), could start by March 2006. Proved and probable oil reserves are estimated to be 120m barrels.In addition, other discoveries may also be declared commercial in due course and the offshore Banda field, say the companies exploring it, may hold sufficient gas to enable the country to join the ranks