• Advertisement
  • Contact us
  • About Us
No Result
View All Result
The Africa Agenda
  • News
  • History
  • Features
  • Opinion
  • Culture
  • Forum
The Africa Agenda
  • News
  • History
  • Features
  • Opinion
  • Culture
  • Forum
No Result
View All Result
The Africa Agenda
No Result
View All Result
  • News
  • History
  • Features
  • Opinion
  • Culture
  • Forum

Senegal Launches First Offshore Oil Production Amid Government’s Push for Fairer Contracts

The Africa Agenda by The Africa Agenda
June 14, 2024
in News
0
Senegal Launches First Offshore Oil Production Amid Government’s Push for Fairer Contracts

Production has begun at Senegal’s first offshore oil project, announced Woodside Energy on Tuesday, marking a significant milestone for both the country and the company. The extraction vessel is stationed approximately 100 kilometers offshore in the Sangomar oil fields, with a goal of producing 100,000 barrels of oil daily.The 2014 discovery of oil and gas reserves off Senegal’s coast sparked hopes for substantial economic transformation through potential revenue generation.

However, the newly elected government, led by President Bassirou Diomaye Faye, has committed to reassessing existing oil and gas contracts with foreign firms, deeming them unfavorable for the nation.”The management of our natural resources, constitutionally owned by the people, will be closely monitored,” President Faye declared in his inaugural address in April. He pledged transparency regarding the ownership of extractive companies and announced an audit of the sector.

RelatedPosts

The Crocodile’s Clock: Mnangagwa, Succession Anxiety, and the Slow Death of Zimbabwe’s Democracy

The Crocodile’s Clock: Mnangagwa, Succession Anxiety, and the Slow Death of Zimbabwe’s Democracy

October 20, 2025
5
Why Gen Zs Should Care About a Borderless Africa

Why Gen Zs Should Care About a Borderless Africa

October 20, 2025
14
Gbiniyiri’s Refugees and the Unfinished Struggle for a Borderless Africa

Over 13,000 Ghanaians Flee to Côte d’Ivoire After Gbinyiri Land Dispute – Interior Minister Confirms

September 4, 2025
3
Gbiniyiri’s Refugees and the Unfinished Struggle for a Borderless Africa

Gbiniyiri’s Refugees and the Unfinished Struggle for a Borderless Africa

September 4, 2025
10

Prime Minister Ousmane Sonko reiterated this stance at a recent Dakar rally, vowing to secure a fair share for Senegal and confront multinational corporations over contract terms.Woodside Energy holds an 82% stake in the Sangomar project, with the remaining share owned by Senegal’s state energy firm, Petrosen. While Senegal’s fossil fuel output may not match that of major producers like Nigeria, Petrosen anticipates over $1 billion in annual revenue from the sector for the next thirty years.

“The initial oil from the Sangomar field signals a transformative period for our industry, economy, and most importantly, our people,” stated Thierno Ly, Petrosen’s general manager.In addition, Senegal is set to begin extraction from the Greater Tortue Ahmeyim LNG project at the Mauritania border later this year. This venture, involving BP, Kosmos Energy, Mauritanian SHM, and Petrosen, aims to produce around 2.5 million tons of LNG annually.

Tweets by Thefrica_Agenda
Post Views: 128
ShareTweetSendSharePin
Previous Post

Opposition Party Agrees to Join South African Unity Government

Next Post

Why Africa Must Unite: Kwame Nkrumah’s Vision for Pan-Africanism

Next Post
Why Africa Must Unite: Kwame Nkrumah’s Vision for Pan-Africanism

Why Africa Must Unite: Kwame Nkrumah's Vision for Pan-Africanism

Nigerian Lawmakers Face Backlash Over Push for New Presidential Aircraft Amid Economic Crisis

Nigerian Lawmakers Face Backlash Over Push for New Presidential Aircraft Amid Economic Crisis

William Ruto’s Diplomatic Maneuvering: A Betrayal of Pan-African Ideals?

William Ruto’s Diplomatic Maneuvering: A Betrayal of Pan-African Ideals?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Our Feeds

Tweets by Thefrica_Agenda
Facebook Twitter Youtube Telegram

Random AfricanWave Posts

AfCFTA: The Bold Experiment That Could Redefine Africa’s Future

Justice Denied: Kenya’s Gen Z Protests and the Fight Against State Violence

Ibrahim Traoré: Burkina Faso’s Revolutionary Firebrand Lighting a New Path for Africa

Defying Neo-Colonialism: Lessons from Nkrumah’s Legacy

The African Passport Scam—Why Ordinary Africans Still Can’t Travel Freely

Ama Ata Aidoo vs. the Neocolonial Mind: A Literary Knockout in Defense of African Dignity

Random African Connects Posts

AAMA 2024 to Convene in Accra, Ghana, for Critical Pan-African Dialogue

Ama Ata Aidoo vs. the Neocolonial Mind: A Literary Knockout in Defense of African Dignity

10 richest people in Africa in Q1 2024

Ministers of Health commit to accelerated action against malaria in Africa

Random AfricanWPulse Posts

Fifteen Malian Soldiers Killed in Jihadist Ambush Near Diallassagou

East Africa Grapples with Internet Outages Due to Undersea Cable Faults

African States Caught in Renewed Cold War Amid Russian-Ukrainian Conflict

Nigerian Police Work to Secure Release of 20 Kidnapped Medical Students in Benue State

ANC Stands Firm on Ramaphosa Amid Coalition Talks

Ghana to Host High-Level Pan-African Growth Conference in May

© 2024 Copyright - Sponsored by The Africa Agenda.

No Result
View All Result
  • News
  • History
  • Features
  • Opinion
  • Culture
  • Forum

© 2024 Copyright - Sponsored by The Africa Agenda.