Senegal has offered 104 oil and gas blocks to investors with the aim of accelerating exploration and production. Abdoulaye Daouda Diallo, the Minister of Energy and Petroleum of Senegal, announced at the Africa Energy Week conference in Cape Town that the country has divided its land into 113 blocks, including 65 onshore and 48 offshore blocks. Currently, four blocks are under contract, and five offshore blocks have been allocated to Eni, which has signed an agreement to assess the oil and gas potential of these blocks.
Yakaar-Teranga Gas Project
Senegal is also looking for new partners to develop the Yakaar-Teranga gas project. The national oil company of the country, Petrosen, has taken full management of this project following the exit of Kosmos Energy in April. Diallo stated that this project will help supply gas for electricity generation, industrial uses including fertilizer production, and exports. He emphasized the need to create a coherent development structure, credible buyers, and a transparent investment plan, saying: "Our strategy is to build a value chain from well to plant, with gas at the center of our industrial vision."
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Call for Collaboration and Investment Transparency
Diallo urged investors to review Senegal's data and collaborate with the country's technical teams to present proposals that have investment and execution capabilities. He also called for the participation of companies and Senegalese workers from the outset of projects and emphasized the support of the local content oversight committee. He said: "Capital must yield returns, and Senegal must achieve a stronger economy. The partnerships we seek must serve both goals."
Diallo also announced that Senegal hopes to expand the MSGBC coalition beyond its current five members (Senegal, Mauritania, Gambia, Guinea-Bissau, and Guinea), but did not specify the countries under consideration.
