Orabank shares highlights of 30 years in the oil and gas industry
After eight years operating in the Senegalese market as BRS, the bank became Orabank after the acquisition by Oragroup four years ago and has seen strong growth since. Luc Morio, Orabank Director General, talks to Africa Energy Series: Senegal, about the bank’s activities in the oil and gas sector.
What interests do you have in the energy sector and oil and gas more specifically?
In the energy sector, we currently work with the public sector in several projects as well as a number of private power producers by securing project financing through bank instruments such as letters of guarantee and trade finance.
In oil and gas specifically, we mainly target sub-contractors and oil services companies, in addition to majors. Our footprint in producing countries such as Gabon and Chad and in exploration focused countries such as Guinea-Bissau, Niger and Mauritania, has allowed us to have a strong understanding of the dynamics in such a specific market as hydrocarbons.
What are Orabank Senegal’s next steps to increase its footprint in the local oil and gas market?
We already support a number of oil and gas players and are in discussion with several others in various sectors such as specialized services, logistics, transport and catering. We conduct economic intelligence in order to know who is coming in and who is thinking of coming in. Locally, we wish to show we can be the partner of choice through various communications.