Common questions

Does Guinea-Bissau have oil?

Does Guinea-Bissau have oil?

The Agence de Gestion et de Coopération entre Le Sénégal et La Guinée Bissau (AGC) Shallow is only 100 km from Bissau and has sea depths ranging from 25m to 100m, with known oil between 50m to 70m. There are a total of 14 wells, however, only one has been drilled after the acquisition of 3D seismic data.

Why is Guinea-Bissau a poor country?

With a GDP per capita of US$ 494, Guinea-Bissau is among the poorest countries in the world. Since independence from Portugal in 1974, the country has suffered chronic political instability that has displaced people and hampered growth and efforts to combat poverty.

Is Guinea-Bissau a poor country?

Guinea-Bissau has been plagued by political instability since it became independent in 1974, resulting in a lack of development and high levels of poverty. Nearly 70 percent live below the poverty line, with high infant and maternal mortality rates and a countrywide chronic malnutrition rate of over 25 percent.

What is the official language of Guinea-Bissau?

Guinea-Bissau/Official languages
The official language of Guinea-Bissau is Portuguese, which is spoken by 11% of the population. The local dialect is called Crioulo or Kiriol. French is also learned in schools, as Guinea-Bissau is surrounded by French-speaking countries and is a full member of the Francophonie as well as the Lusophone CPLP.

Where is Guine Bissau?

western Africa
Guinea-Bissau, country of western Africa. Situated on the Atlantic coast, the predominantly low-lying country is slightly hilly farther inland.

What percent of Guinea-Bissau is in poverty?

69 percent
Located on West Africa’s Atlantic coast, Guinea-Bissau is one of the world’s poorest and most unstable nations. Approximately 69 percent of the population lives below the poverty line, and 25 percent of the population suffers from chronic malnutrition.

What is the currency of Guinea?

Guinean franc

The Guinea franc (GNF) is the national currency of the African nation of Guinea. The country used the common area currency the CFA franc until its independence in 1958.

Is Guinea-Bissau a rich country?

Guinea-Bissau is among the world’s least developed nations and one of the 10 poorest countries in the world, and depends mainly on agriculture and fishing.

Which country use Guinean franc?

Guinean franc/Countries

Who is the National Oil Company of Guinea Bissau?

Petroguin, the national oil company, is a carried partner during the exploration period. Block 1 (Corvina) and Block 5B (Becuda) are located offshore Guinea-Bissau in the productive Mauritania-Senegal-Guinea-Bissau-Conakry Basin.

When did cap energy take over Guinea Bissau?

In February 2013, Cap acquired 85.7% of the shares of Sphere Petroleum Corporation (BVI), a company that holds 35% participation interests in two explorations licences in the Republic of Guinea-Bissau. Cap Energy’s interests in Block 1 and Block 5B were officially gazetted by the Government of Guinea-Bissau on 19th February 2013.

Where is CNOOC drilling in Guinea Bissau?

Impact Oil and Gas and CNOOC International may be drilling in AGC Profond [between Senegal and Guinea Bissau]. This is an exploration hot spot. There’s a lot of upcoming interest.”

How long is Guinea Bissau licence for Petronor?

PetroNor said the Guinea Bissau government had extended the licence for three years, until October 2023. “We’ve been very impressed by the technical work done by Svenska and FAR. There’s high potential and strong similarities to the Sangomar field in Senegal,” PetroNor’s exploration director Michael Barrett told Energy Voice.

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