Journées Pétrole 2025 tackle the challenges of negotiating and monitoring oil contracts in Africa

How to maximise the benefits of African hydrocarbons? The 3ᵉ edition of the Journées Pétrole, organised by the Gabonese firm 3M-Partners & Conseils, will be held from 28 to 31 May 2025 in Dubai to answer this crucial question. With a central theme of "Negotiating and monitoring production sharing contracts (PSCs)", this event is shaping up to be a must-attend event for African players in the oil sector, determined to regain control of their resources.

Africa, which holds 125 billion barrels of oil reserves (7% of the world total), has not always been able to make the most of its potential. "Unbalanced negotiations and lax monitoring have long deprived the continent of fair revenues", points out 3M-Partners, the event's organiser. Production sharing contracts, which govern partnerships between governments and multinationals, are at the heart of this problem. They set out the key terms (royalties, profit-sharing, social obligations) and their monitoring ensures that commitments, such as investment and transparency, are respected.

"Without rigorous monitoring, even the best contract remains an empty shell," notes SP Global, a strategic partner of the event. This giant in energy analysis will be contributing its expertise in modelling and risk management, offering innovative tools such as contract simulators and real-time performance indicators. These solutions aim to equip African countries to negotiate from a position of strength and avoid the pitfalls of poorly calibrated agreements.

This year's event will bring together delegations from 13 sub-Saharan countries, including major players from Central Africa (Gabon, Congo, Chad, DRC), West Africa (Senegal, Côte d'Ivoire, Niger) and the Indian Ocean (Comoros). The participation of new entrants such as Mauritania and Niger testifies to a collective determination to avoid the mistakes of the past, marked by limited benefits despite colossal potential.

The aim of the Oil Days is threefold: to enhance the skills of African negotiators, to share best practice (along the lines of the model contracts in Ghana and Botswana) and to propose solutions to local challenges, such as corruption and the lack of qualified technicians. The challenge is clear: not only to sign fair contracts, but also to guarantee their execution over decades.

The event was initiated by 3M-Partners, a Gabonese firm with 16 years' experience, which has established itself as a key player in the sector. With 1,500 strategic assignments carried out in 8 African countries, the firm has notably co-drafted the Gabonese hydrocarbons code and piloted the Extractive Industries Transparency Initiative (EITI) in Gabon. Their vision? Fair contracts and "zero leakage" management of oil revenues, so that black gold finances infrastructure and sustainable jobs.

If Africa wants to turn its oil potential into a lever for development, it must overcome the "resource curse" - economic dependence and corruption. The Journées Pétrole 2025 are part of this ambition, equipping African states with the tools and know-how they need to negotiate and manage their contracts rigorously. By focusing on transparency and competence, the continent can finally turn its black gold into an engine of prosperity.