Senegal to market 109 oil and gas blocks as government seeks new exploration investment
Senegal is preparing to market 109 oil and gas blocks to local and international investors as the government seeks to expand exploration and attract new investment across its petroleum sector.
The initiative forms part of Senegal’s strategy to increase exploration beyond its existing producing assets and make greater use of its offshore and onshore hydrocarbon potential.
The government plans to promote the available acreage to international energy companies while strengthening the role of PETROSEN, the national oil company, in the development of the country’s petroleum resources.
Expanding exploration
Senegal has identified significant exploration opportunities across its sedimentary basins, with offshore acreage offering potential for additional oil and gas discoveries.
The government has been working to create a more attractive environment for exploration through regulatory reforms, improved geological data and greater cooperation with international energy companies.
Recent agreements with companies including Eni are expected to support technical evaluation of additional offshore acreage and help identify areas with commercial potential.
Senegal is also seeking to build on the start of commercial production from major offshore developments, including the Sangomar oil field and Greater Tortue Ahmeyim (GTA) gas project.
Strengthening the petroleum sector
The planned marketing of 109 blocks is intended to increase exploration activity while attracting capital and technical expertise into Senegal’s upstream industry.
The government has also emphasised the importance of developing local capabilities and ensuring that petroleum resources contribute to wider economic development.
As new acreage is presented to investors, Senegal will be seeking to translate its growing offshore profile into additional discoveries, production and long-term investment across the oil and gas value chain.
