Senegal began the exploitation of its oil from the Sangomar field on June 11. According to the Multiannual Economic and Budgetary Programming Document (Dpbep), the first commercial cargo is expected at the beginning of July.
The exploitation of the Sangomar field will make it possible to recover approximately 630 million barrels of oil and 2.4 Tcf of natural gas (associated and non-associated) as part of future development (future phase). The development concept adopted includes a floating production, storage and offloading unit (Fpso) connected to an underwater hydrocarbon collection and transport infrastructure. In 2024, annual production of 11.7 million barrels of crude oil is expected, of which 4.34 million barrels will be destined for the domestic market.
According to the Dgpeb, the total revenues expected for all of Senegal’s hydrocarbon reserves will reach 576.3 billion FCfa. Revenues for 2025 are estimated at 127.7 billion FCfa, 205.4 billion for 2026 and 243.2 billion for 2027. These revenues will mainly finance priority investment expenditure included in the Public Investment Program (Pip), as well as current expenses, in particular of a social nature, with the exception of wages and salaries.
The document specifies that the revenue will be used to cover priority government spending in the health, education, water and sanitation sectors. The exploitation of hydrocarbons will also have an impact on the country’s growth.
