In recent years Senegal has undertaken intensive petroleum explorations that have revealed the existence of commercially exploitable oil and gas resources. The start of oil production and the exploitation of new gas deposits are expected by 2021-2023.
How much oil will the Senegalese oil field produce a day?
The SNE field is expected to reach a maximum production of 75,000 to 125,000 barrels per day. The Senegalese State’s share of the SNE field oil rent is estimated at between 55 and 60%, which would amount to $10-14 billion over 20 to 25 years (Ndao, 2018) based on the 1998 Oil Code. 3.
Can natural resources exploitation promote economic development in Senegal?
With perspectives of oil production in Senegal coming close to materialize, much of the recent Senegal-focused literature (Diop 2018; Partnership for Action on Green Economy (PAGE), 2018) focuses on how revenues from natural resources exploitation could be efficiently used for promoting economic development in Senegal.
When will oil & gas production start in Senegal?
The production of oil and gas in Senegal is currently expected to start in 2023 for both the GTA and Sangomar projects. This represents a delay compared to the first timeline put forward by companies for both projects which targeted 2021.36,37