Page 34 - Nigeria one mag en-21

Discovered Oil & Gas in Senegal! An opportunity paired with some

serious challenges

Aerial view over Dakar, Senegal

As more and more countries discover oil and gas, the number of potential producers in Africa is gro-
wing. Senegal is among those lucky ones that will start producing oil and gas in a couple of years and is
seriously preparing. Its potential is enormous with onshore and offshore discoveries. In the Northern
part, Mauritania and Senegal will jointly exploit an important oil reserve. The leaders of both countries
have acted maturely to preserve peace and keep the new oil resources from creating discord which
would cause a “malediction”. In addition, the Senegalese government utilized its human resources and
acted wisely by hiring a few Senegalese heavyweights who have extensive experience working for
multinational oil firms to promote the industry.
Senegal also opens itself up to zing in each phase, such as dent Macky Sall. On this occa-
the world to benefit from the exploration, exploitation, and sion, a bill regarding the dis-
experience of other countries. distribution. PETROSEN , for tribution and supervision of
A few months ago, an impor- example, was divided into revenues from the exploitation
tant delegation headed by the downstream and upstream of hydrocarbons was validated.
Minister of Oil and Energy, So- units with a management enti- This was presented by the Mi-
phie Gladima, went to Nigeria ty on top. SAR, on the other nister of Finance and Budget,
and met with the Minister of end, is still performing its tra- Abdoulaye Daouda Diallo. The
Petroleum Resources Chief ditional activities with a refi- bill included 23 ar-ticles in fi-
Timipre Sylva and his team to nery even though the country ve chapters. It cente-red on
exchange on the challenges has the ambition to build ano- four major principles: the
ahead and establish ther one. prohibition of the early trans-
partnerships. The country is The Senegalese authorities ha- fer of hydrocarbon resources,
also organizing an energy ve a clear vision of how they the budgeting of revenues de-
“SUMMIT” in a near future plan to develop the sector and rived from hydrocarbon exp-
and is expecting record atten- realize that gas is the future loitation, the establishment of
dance. and luckily, the country has an intergenerational fund, and
Local content is of paramount more gas than oil. Diamnadio the creation of a stabilization
importance and domestic bu- International Conference Cen- fund. The 700 billion CFA in
sinesses intend to play a signi- ter hosted the Presidential annual revenues expected by
ficant role. They also reorgani- Council on December 21, 2021, the State will be fully budgeted
zed the industry by speciali- which was chaired by Presi- and allocated as follow: 90% of

Africa 34