Senegal has established itself as an emerging oil and gas producer, with major offshore projects like the BP-led Greater Tortue Ahmeyim field and Woodside Energy Group’s Sangomar project driving its development.

The country is looking to leverage this progress with a $100 million investment aimed at accelerating onshore oil and gas exploration, further boosting its production capacity and solidifying its position in the global energy market.

Despite relatively modest proven oil reserves of around 1.03 billion barrels, the country’s offshore fields, particularly Greater Tortue Ahmeyim and Sangomar, are expected to significantly boost production.

In addition to oil, the West African nation holds substantial natural gas reserves, estimated at around 450 billion cubic feet, which are vital for its ambitions in the global LNG market.

These developments position the country as a key player in both the oil and gas sectors.

Petrosen’s Focus on Onshore Exploration

Petrosen’s new focus on onshore exploration aims to further expand Senegal’s oil and gas potential, particularly given the untapped resources in the country’s onshore fields.

“We are investing at least $100 million to jump-start that exploration,” said Petrosen CEO Alioune Gueye. “Since we have discoveries offshore, it begs to reason that we also have the same potential that we have onshore.”

BP’s Exit and Ongoing Role in Senegal’s Energy Landscape

This move by Petrosen comes after BP’s exit from the Yakaar-Teranga natural gas field in 2023. BP, a major British oil and gas company, left the project following a dispute with Senegal’s government over the intended export of gas.

While BP sought to export the gas, Senegal insisted on its domestic use to fuel the country’s gas-to-power plan, which aims to reduce fuel prices and improve electrification.

As a result, BP exited without financial compensation, and Kosmos Energy, a U.S.-based company, increased its stake in the field from 30% to 90%.

Nevertheless, BP continues to operate in Senegal, with a primary focus on the Greater Tortue Ahmeyim offshore gas project.

In early 2025, BP started exporting its first liquefied natural gas (LNG) cargo from the GTA project. Meanwhile, Woodside began oil production from Sangomar the previous year, although both projects encountered delays before reaching full production.

Source: Africabusinessinsider