In its report, the Senegalese Ministry of Oil announced that between June and September 2024, Senegal reached a total production of 8.17 million barrels of oil, a figure marking a crucial turning point in the development of the national oil sector. This result is attributed to the Sangomar project, whose ramp-up has resulted in a regular increase in production, favored by the gradual opening of producing wells.
The Ministry of Oil specifies that 11 of the 12 planned wells are now fully operational, allowing the country to reach a monthly production plateau of around 3 million barrels in August and September. “This ramp-up demonstrates the robustness and efficiency of the infrastructure put in place as part of this flagship project,” underlines the report. Thanks to the FPSO (Floating Production, Storage and Offloading) Léopold Sédar Senghor, a total of 7.69 million barrels were exported, spread over eight cargoes intended for the international market.
Production outlook for the end of 2024
For the fourth quarter, the report indicates that Senegal plans to stabilize daily production around 100,000 barrels. This objective is in line with initial forecasts and aims to maximize the yield of the Sangomar oil field, while ensuring a constant supply of crude oil. The ministry considers that this level of production will contribute to strengthening Senegal’s position among the region’s oil players.
Economic impact and investment prospects
The report also highlights the positive impacts of this production for the Senegalese economy, and underlines that the Sangomar project is expected to play a central role in the national energy strategy. This development has already attracted the interest of investors and could pave the way for future investments in the Senegalese oil sector. “The performance of the Sangomar project strengthens the country’s capacity to play a leading role in energy supply in West Africa,” underlines the ministry.
Responsible management of natural resources
Finally, the report reiterates the commitment of the Senegalese government and its partners to maintaining current performance standards while maximizing economic and social benefits for the country. The ministry concludes by affirming that the results obtained to date reflect Senegal’s desire to manage its natural resources in a sustainable manner and to become a key player on the regional energy scene.
Senegal
