By becoming an oil producer in 2023, Senegal quickly recorded substantial financial gains. In 2024, thanks to the Sangomar offshore field, the country produced approximately 16.9 million barrels of crude oilsurpassing the initial objective of 11.7 million barrels set by its partners.
Revenue estimated at 800 billion CFA francs
Although the Ministry of Energy has not released detailed financial figures for oil exploitation, an analysis by Confidential Dakarand consulted by Senegobelieves that Senegal has garnered approximately 800 billion CFA francs of gross revenue between June 2023 and the end of 2024. These results are based on a price of a barrel of Brent which, although having fallen slightly, has never fallen below 70 dollarsindicates the media.
For the month of December alone, the Australian operator Woodside Energyin charge of exploiting the deposit, sold three cargoes oil, generating minimum revenues of 130 billion CFA francs.
Located around a hundred kilometers south of Dakar, the Sangomar deposit, discovered ten years ago, is exploited using a floating production, storage and offloading unit (FPSO). Commissioned in 2023, this infrastructure made it possible to maximize oil extraction, thus contributing to a rapid increase in Senegalese oil revenues.
In just six months of operation, the financial benefits of Sangomar confirm its strategic role for Senegal and its potential as a new player in the global oil market.
Senegal
