the very good news was announced by the CEO of Petrosen

the very good news was announced by the CEO of Petrosen
the very good news was announced by the CEO of Petrosen

Behind its initial schedule, the Australian oil company Woodside Energy is preparing to begin extracting the first barrels of oil from its offshore deposit located in Sangomar, off the Senegalese coast. The imminent start of production of this deposit, located 100 kilometers south of Dakar, was confirmed in mid-May by Thierno Seydou Ly, general director of exploration and production of the Senegalese national oil company Petrosen.

Initial production, planned for 2023, had been postponed due to logistical constraints related to the floating production storage and offloading (FPSO) vessel. According to new estimates, the “first oil” of Sangomar should take place before June 30.

This development brings hope for the Senegalese, who expect a lot from the economic benefits of natural resources. The project reached a 97% completion rate by the end of April, Thierno Seydou Ly said. “The first barrels of oil are expected in the coming days”he clarified during the forum “Investing in energy in Africa”organized by the African Energy Chamber (AEC) in Paris.

The delay in starting production led to an increase in project costs, which rose from $4.6 billion to almost $5.2 billion (4.8 billion euros). Woodside Energy owns an 82% stake in the project, in partnership with Petrosen which owns 18%. The Sangomar oil field is expected to produce around 100,000 barrels of oil per day (bpd), according to Dakar forecasts. The revenue generated is expected to be invested by the government in various priority sectors such as education, health, energy and industry.

-

-

PREV Legislative elections 2024: “François we love you more than pastis”, dry beer… the former president is campaigning in Corrèze
NEXT Security: what are the major political blocs proposing for the legislative elections?