Senegal Enters ‘New Era’ As It Begins Production At Its First Offshore Oil Field

 

Source: Africa Publicity

West African nation, Senegal, has entered a “new era” as it commenced production at its first offshore oil field.

The commencement of production was announced by Woodside Energy, an Australian oil exploration group.

 

The group announced the commencement of production in a statement on Tuesday, June 11, 2024.

Chief Executive Officer of the Australian Group, Meg O’Neill, in a press statement described the commencement of production at the offshore field as “…a historic day for Senegal and for Woodside.”

According to the statement,
the vessel extracting the oil is moored about 100 kilometers (60 miles) offshore at the Sangomar oil fields.

It said “the project aims to produce 100,000 barrels of oil per day.”

The discovery of oil and gas off the coast of Senegal in 2014 raised hopes that the industry could generate billions of dollars in revenue for the developing country and transform its economy.

The government of President Bassirou Diomaye Faye has promised that profits from the sale of oil and gas will be “well managed”.

General Manager of Senegal’s national oil company, Petrosen, Thierno Ly, says Senegal had entered a “new era” following the commencement of production at the offshore oil field.

According to him, “We have never been so well positioned for opportunities for growth, innovation and success in the economic and social development of our nation.”

Petrosen owns 18% stake in the offshore oil field while the rest is owned by Woodside Energy.

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