Senegal has officially become an oil exporter with the commencement of the Sangomar project, operated by Woodside.
The $5.2 billion development is now producing 100,000 barrels per day of medium-sulfur oil, marking a significant milestone for the country.
The Greek tanker Maran Poseidon, chartered by Shell International Trading, arrived at the export terminal to transport the first batch of Senegalese crude.
With a capacity of 1.06 million barrels, this tanker is set to deliver the initial cargo to Shell, signaling Senegal’s entry into the global energy market.
This introduction of non-OPEC+ crude comes at a pivotal time as the producers’ alliance works to stabilize the market and increase prices amid rising production in America and ongoing inflation.
Sangomar’s oil, with characteristics similar to Oman Blend and Johan Sverdrup, is expected to attract refineries in China, Poland, the Netherlands, and Germany.
Woodside holds an 82% stake in the project, with Petrosen owning the remaining 18%. The crude is loaded from the 1.3 million-barrel FPSO Leopold Sedar Senghor, anchored 100 km off Dakar.
The project includes 24 wells, comprising 12 production wells, 10 water injectors, and two gas injectors.
The first oil shipment coincided with Bassirou Diomaye Faye’s election victory. Although contract renegotiations were announced, no concrete actions have been taken yet.
Additionally, Senegal is preparing for the launch of the Greater Tortue Ahmeyim LNG project, operated by BP and expected later this year.
This new influx of crude oil and natural gas bolsters Senegal’s position in the energy industry, opening up significant economic prospects and investment opportunities.
