6.250
%
Neutral
87
mm boe
10
%
Mauritania has historically been a difficult place to invest, and the government's retrospective actions after the disappointing Chinguetti field remain a guide for investors. However, first LNG from Greater Tortue Ahmeyim in 2025 and a stable political environment are positives. Outlook maintained because production gains are tempered by past retrospective behaviour. Outlook: Neutral. Risk premia unchanged at 6.25%.
October 7, 2026
Africa - North
mm bbl
bcf
Western Africa, bordering the North Atlantic Ocean, between Senegal and Western Sahara.
PSC/PSA
Production Sharing Contract ("PSC")-based fiscal regime. The State has the option to take 12% in any development licence, and to increase its equity when production exceeds a negotiated threshold. Signature bonuses and a range of production bonuses and other rentals are payable. There is no royalty; cost recovery ceilings are negotiable, whilst profit oil splits are biddable and are based upon production rates and water depth. The contractor is also liable for income tax.
President Mohamed Ould Ghazouani won re-election in 2024, and Mauritania is one of the more stable countries in the Sahel. US and UK guidance cite bureaucracy, corruption and capacity constraints, alongside a pro-investment stance in mining and energy. The EIA notes that BP and Kosmos's Greater Tortue Ahmeyim LNG project, shared with Senegal, shipped its first cargo in 2025. Bir Allah is a potential follow-on gas project, and the government is promoting green hydrogen.
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
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