Senegalese President Macky Sall has said that Africa needs harmonized oil legislation to avoid ruinous competition among its oil-producing nations as they vie for investors.

President Sall Thursday said that as some developed nations push for an end to investments in fossil fuels, particularly gas, African countries must attract partners who are financially and technically reliable with clear legislation.

According to him, this would offer more guarantees to investors, and protect national interests.

I have as ambition to push at the level of the African Union, that we should have a harmonized legislation in the petroleum and also the mining sector he said.

Macky Sall told the gathering that included major oil operators and ministers from the region that African nations should make efforts to participate in projects as equity shareholders rather than being contented with royalties.

Citing Senegal's cooperation with Mauritania on the Greater Tortue Ahmeyim Liquefied Natural Gas project, Sall said there will be no fatality, nor oil curse, or ruinous competition if there is a political will to cooperate across the board. 

Mauritania's oil minister Mohamed Abdel Vetah told the conference that activities had resumed at the project after most obstacles hindering progress were removed.