“Sangomar is Senegal’s first offshore oil development and we remain committed to working with the government of Senegal and local communities to ensure that the benefits from our investments are felt broadly across the country,” said Meg O’Neill, Woodside CEO.
How is Senegal’s energy sector doing?
Senegal’s energy sector has recently got a huge boost after U.S. and UK companies announced oil and gas findings off the coast of the West African country. Senegal has been one of the few countries in the region that enjoys relative political and economic stability.
How did Mauritania & Senegal become a world-class oil company?
In 1998, the company started to cover the upstream oil value chain and sign international agreements. This resulted in the discovery of considerable oil and gas reserves of world-class assets between 2014 and 2016 in the south of the country, and in offshore reserves in the north that are divided between Mauritania and Senegal.
Will Kosmos be the first to drill in Senegal?
However, Kosmos won’t be the first to carry out exploratory oil drillings in the area. Last week, UK firm, Cairn Energy Plc reported positive results from its oil well off Senegal.