(Ecofin Agency) – The Sangomar oil project developed offshore as part of the Rufisque Offshore joint venture involving Woodside and the Senegalese public oil company Petrosen, has completed six months of operation.
According to figures published Tuesday January 7 by the Senegal Ministry of Oil, the Sangomar oil project, operated off the country’s coast, has shown sustained performance since it entered production in June 2024.
At the end of this year, production from the field, whose producing wells are now operational, stood at around 16.9 million barrels of crude oil. A performance which exceeds the initial objective of 11.7 million barrels.
In its announcement, the Senegalese Ministry of Oil does not explain the reasons which favored this performance. The project potentially benefited from advantageous geological conditions combined with rigorous stakeholder management.
Put into perspective with the extraction, less than a week ago, of the first gas volumes on Greater Tortue Ahmeyim (GTA), this development highlights the growing role of Senegal on the international oil and gas market.
“Total production from the Sangomar site for the month of December 2024 reached 2.96 million barrels of crude oil. During the same month, three cargoes, representing a total volume of 2.94 million barrels, were shipped and marketed on the international market,” declared the Ministry of Oil.
Knowing that Sangomar must produce 100,000 barrels per day daily,‘Ecofin Agency calculated that the project would bring Senegal around $60 billion over 25 years, based on a crude price of around $84 per barrel.
Abdel-Latif Boureima
Edited by Wilfried ASSOGBA
Read also:
06/20/2024 – How much can the Sangomar project really bring to Senegal
