Senegal has officially entered the circle of world oil exporters thanks to the Sangomar project, operated by Woodside. The $5.2 billion development now produces 100,000 barrels per day of medium-sulphur oil. This first export underlines the strategic importance of the project for the country.
The Greek oil tanker Maran Poseidon, chartered by Shell International Trading, has arrived at the export terminal to transport Senegalese crude. The tanker, with a capacity of 1.06 million barrels, is ready to transport this first cargo sold to Shell, a significant milestone for Senegal on the global energy scene.
Impact on the Energy Market
The new influx of non-OPEC+ crude comes at a critical time. The alliance of producers is trying to stabilize the market and raise prices in the face of rising production in the Americas and persistent inflation. Sangomar oil, with qualities similar to Oman Blend and Johan Sverdrup, is well positioned to attract refineries in China, Poland, the Netherlands and Germany.
Woodside holds an 82% interest in the project, alongside Petrosen with 18%. Crude is loaded from the 1.3 million barrel Leopold Sedar Senghor FPSO, anchored 100 km offshore Dakar. The project comprises 24 wells, including 12 production wells, 10 water injectors and two gas injectors.
Infrastructure et Production
The cargo is loaded from the FPSO Leopold Sedar Senghor. The Sangomar project comprises a complex infrastructure with 24 wells, including 12 production wells, 10 water injectors and two gas injectors for the first phase. The total capacity of the development makes it a significant player in the sector.
The first oil shipment comes after Bassirou Diomaye Faye won the election. Although he announced contract renegotiations, no concrete action has yet been taken. Senegal is also preparing for the start of the Greater Tortue Ahmeyim LNG project, operated by BP and expected later this year.
The addition of this new source of crude and natural gas to the global market strengthens Senegal’s position as a key player in the energy industry. This opens up significant economic prospects and investment opportunities.
