The African Vitality Chamber (AEC) (https://EnergyChamber.org/) has carried out a working go to to Senegal, assembly with Senegal’s Minister of Vitality, Petroleum&Mines, Birame Souleye Diop, and key stakeholders within the oil and fuel trade – aiming to advertise additional collaboration and funding within the sector.
In the course of the go to, the AEC engaged in productive discussions with Minister Diop, specializing in crucial points that can drive the expansion and sustainability of Senegal’s oil and fuel trade. The talks centered on methods to extend native content material – making certain that Senegal’s residents profit from the nation’s pure assets by way of larger participation of native corporations and employees within the trade. Moreover, alternatives to foster larger cooperation amongst stakeholders, together with authorities businesses, worldwide oil corporations and native companies had been mentioned, recognizing that collaboration is essential to driving funding and progress within the sector. Initiatives to enhance Senegal’s oil and fuel trade had been additionally explored, with the purpose of enhancing general trade efficiency.
Because the voice of the African vitality sector, the AEC stays steadfast in its advocacy for oil and fuel improvement in Africa. Africa’s wealth of assets – estimated at 125 billion barrels of confirmed oil and 620 trillion cubic ft of confirmed pure fuel – provide the continent the answer it must speed up industrialization, electrification and inclusive financial development. Senegal is taking the fitting strategy to improvement on this regard and the AEC acknowledges the federal government’s constructive efforts to foster collaboration and funding.
In a big milestone for the nation, Senegal achieved first oil manufacturing on the Sangomar oilfield in June 2024. With a capability of 100,000 barrels per day (bpd), the challenge not solely introduces a dependable and reasonably priced gasoline supply for the nation however positions Senegal as a serious African producer. Developed by way of a partnership between Senegal’s NOC Petrosen and exploration and manufacturing firm Woodside Vitality, the Sangomar challenge demonstrates the important function collaboration performs in supporting twin objectives of reaching vitality safety whereas advancing the vitality transition in Africa. The challenge – alongside the Larger Tortue Ahmeyim (GTA) LNG challenge which expects first fuel manufacturing this 12 months – underscores how oil and fuel can function a catalyst for sustainable improvement in Africa.
As the primary large-scale offshore oil improvement in Senegal, Sangomar stands as a testomony to the worth of trade collaboration in growing deepwater initiatives. The challenge’s part one options an FPSO – Léopold Sédar Senghor – located 100 km off the coast of Senegal, with a capability of 100,000 bpd. All through part one, 23 wells might be drilled, with operations already underway.
Past Sangomar, the following challenge on the Senegalese horizon is GTA, which is on monitor to start out operations by This fall this 12 months. The challenge – developed by way of a partnership comprising vitality majors bp and Kosmos Vitality, Petrosen and Mauritania’s SMH – has a manufacturing capability of two.3 million tons in its first part. Located on the maritime border of Senegal and Mauritania, the challenge has set a powerful benchmark for collaborative vitality developments in Africa.
Along with collaboration, GTA is ready to provoke clear vitality manufacturing within the MSGBC area. The challenge showcases each Senegal and Mauritania’s dedication to harnessing their fuel assets for sustainable improvement, serving as a catalyst for the area’s simply vitality transition. At a time when western nations are calling for an finish to fossil gasoline utilization, each the Sangomar and GTA initiatives spotlight the crucial worth these assets maintain in Africa.
As Senegal’s President Bassirou Diomaye Faye so aptly famous, “I’m considering of the unfair circumstances of the vitality transition, when some companions prohibit the international financing of fossil vitality sources, together with fuel, whereas they proceed to make use of rather more polluting sources corresponding to coal themselves.”
Oil and fuel initiatives are already remodeling Senegal’s financial system. However alternatives concerning vitality provide, initiatives such because the Sangomar and GTA developments function an important income whereas creating 1000’s of jobs and related enterprise alternatives. The initiatives have additionally showcased Senegal’s functionality to undertake and handle in depth vitality initiatives on a big scale.
“Senegal’s achievement of first oil manufacturing is a historic milestone – each for the nation and the broader MSGBC area – and we anticipate the beginning of fuel manufacturing this 12 months to additional improve the attractiveness of the market. We help President Faye’s name for a simply transition on fossil fuels, highlighting the necessity to tackle the imbalance of Western nations proscribing fossil fuels in Africa whereas persevering with to make the most of extra polluting sources. We stand in solidarity with Senegal in selling equitable vitality transition circumstances and stay dedicated to working with stakeholders to drive funding and development in Senegal’s vitality sector,” acknowledged NJ Ayuk, Govt Chairman of the AEC.
Distributed by APO Group on behalf of African Vitality Chamber.