Senegal to Offer 109 Oil and Gas Blocks to Investors
Senegal will offer to local and foreign investors as many as 109 oil and gas blocks, Energy and Petroleum Minister, El Hadji Abdourahmane Diouf, has said. Only four out of the West African country’s 113 oil and gas blocks are currently contracted, the official told a local TV channel. “The remaining 109 will be put on the market,” the minister said, as carried by Reuters. “The president’s plan is…
Senegal plans to auction 109 oil and gas exploration blocks to investors, according to Energy and Petroleum Minister El Hadji Abdourahmane Diouf. Currently, only four out of the country's 113 oil and gas blocks have contracts, with the remaining 109 set to be offered on the market, Reuters reported. Diouf emphasized that the purpose of this initiative is to cultivate local leaders within the energy, oil, and gas sectors, as announced by the president.
Recent offshore oil and gas discoveries have sparked the development of Senegal's petroleum industry, with the nation's inaugural oil project commencing in 2024. The successful launch of this oil project in Sangomar Field, operated by Australian Woodside Energy, marked a new era for Senegal's industry and economy, highlighting its positive impact on the nation's people.
This development was followed by BP's successful execution of the first LNG cargo export from Phase 1 of the Greater Tortue Ahmeyim project offshore Mauritania and Senegal a year later. With the capacity to produce approximately 2.3 million tons of LNG annually over a span of more than two decades, the project is poised to generate substantial revenue for years to come.
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