Journées Pétrole 2025 in Dubai : SONAP spearheads oil development in Guinea

At a time when Africa is emerging as a key player in the global oil sector, Guinea's Société Nationale des Pétroles (SONAP) is positioning itself as a driving force behind hydrocarbon exploration and production in the country. Backed by a robust institutional framework and promising oil potential, SONAP embodies Guinea's ambition to transform its resources into levers for economic development, an objective in line with the discussions at the Oil 2025 Days in Dubai.

Created under the aegis of the Comité National du Rassemblement pour le Développement (CNRD), SONAP operates under dual supervision: technical, reporting to the Presidency of the Republic, and financial, overseen by the Ministry of the Economy and Finance. This structure guarantees governance aligned with national priorities, a point emphasised by Gacyen Mouely at the Journées Pétrole 2025, where he stressed the need for inter-institutional synergies for effective monitoring of Production Sharing Contracts (PSCs).

SONAP's legal framework is based on three pillars:

• The Petroleum Code and its implementing decree, which set out the rules for the exploration and exploitation of hydrocarbons.
• Production Sharing Contracts (PSCs), which define the profit-sharing arrangements between the State and oil operators.
• <Law 0002/2021/AN, establishing SONAP's monopoly on the import of petroleum products, reinforcing its strategic role in the energy value chain.

SONAP's governance is ensured by a Board of Directors for strategic supervision, a General Management for operational management, and control bodies, notably the Cour des Comptes and auditors, guaranteeing transparency. These mechanisms are in response to the calls made by H.E. Mr Vacaba Diaby during the Journées Pétrole 2025 for rigorous audits to avoid practices such as those revealed by Mr Mouely, where tax penalties were included in the reimbursable costs.

Guinea has significant oil potential, both offshore and onshore, which is attracting the attention of international investors. According to SONAP's presentation:

• Offshore: The country has 22 blocks covering a total area of 80,000 km², with 42,921 km² of 2D seismic data and 15,679 km² of 3D data. Three wells have been drilled to date, revealing potential that is still under-exploited.
• Onshore: Seven sedimentary basins were identified, with three wells drilled, signalling opportunities for future exploration.

This potential places Guinea among the African countries with strong oil potential, like Côte d'Ivoire, whose 70% dependence on natural gas for electricity was highlighted by Mr Diaby. However, as noted during the Oil Days, the effective exploitation of these resources requires reliable technical data and well-negotiated PSCs, areas in which SONAP relies on partnerships with experts such as S&P Global to develop its sedimentary basins.

SONAP plays a central role in Guinea's strategy for energy sovereignty. By monopolising the import of petroleum products, it stabilises national supply while generating revenue for the state. Upstream, it supervises exploration and production through CPPs, drawing inspiration from models such as Senegal's, which uses 4D seismic monitoring for the Sangomar field to incorporate advanced technical controls.

Discussions at Oil 2025 highlighted the importance of building the technical and legal capacity of African states. SONAP, in collaboration with international partners, is investing in training its teams to analyse seismic data and negotiate balanced PSCs, thereby avoiding identified pitfalls such as contractual imbalances.

Despite its potential, SONAP faces challenges, not least the need for investment to step up exploration and modernise infrastructure. The low number of wells drilled (six in total) indicates a sector that is still in its infancy, requiring strategic partnerships with oil majors. In addition, Guinea needs to harmonise its approaches with other African countries, a point raised by Mr Diaby, who called for regional pooling to strengthen Africa's position in oil negotiations.

In the future, SONAP plans to increase seismic campaigns and accelerate exploratory drilling, while incorporating environmental standards into its PPCs to align its activities with energy transition objectives. These ambitions are in line with the Oil Days 2025 vision, which promotes sustainable and inclusive oil governance.

As the backbone of Guinea's oil industry, SONAP S.A. illustrates Africa's potential to transform its resources into engines of growth. With a solid institutional framework, promising oil potential, and a willingness to align itself with international best practice, SONAP is well placed to make Guinea a key player in the African oil sector. As Mr Mouely pointed out, well-structured PPCs and rigorous controls are essential to maximise the benefits for the population. SONAP, through its commitment, is paving the way towards this goal.