Senegal Opens Up Oil Reserves for Investors Amid Energy Surge

Senegal is opening up its oil and gas reserves to investors after significant discoveries in recent years. The country's Energy and Petroleum Minister, El Hadji Abdourahmane Diouf, announced that 109 out of 113 oil and gas blocks will be offered for sale. This move comes as the president aims to create local leaders in the energy sector.

The West African nation has seen a surge in oil production since its first project launched in 2024, with Australia-based Woodside Energy's Sangomar oil project achieving first oil in June of that year. The project has a nameplate capacity of 100,000 barrels per day and is expected to allow for subsequent development phases.

BP also successfully loaded the first LNG cargo for export from its Greater Tortue Ahmeyim project offshore Mauritania and Senegal last year, with the project set to produce around 2.3 million tons of LNG per year.