Page 32 - Nigeriaone mag 2 edition en

Oil discovery in Senegal: where does the Sangomar oil field

stand?

Oil platform at sea illustrative image

Sangomar is Senegal's first-ever oil project and is will be between 75,000 and 100,000 barrels per day.
attracting interest from many investors. The Recoverable reserves have been estimated at nearly
Senegalese authorities decided last year to approve 630 million barrels of oil. The platform would
the sale of the 15% stake of the Australian oil therefore be capable of producing and processing
company FAR in the Sangomar oil project to its 100,000 barrels daily. The first production, initially
compatriot Woodside Energy. The deal was planned for 2021, will be observed from 2023. Gas
concluded for $45 million. Woodside is committed will also be processed at a rate of 130 million
to paying this amount to FAR, before repaying its standard cubic feet.
share of the working capital for the project of about The floating unit, deployed offshore and moored at
$67 million. a depth of approximately 780 meters, will also be
used for the minimum storage of 1.3 million bar-
Very attractive estimates rels of crude oil and for offloading. This first phase
The US company Diamond Offshore Drilling is of the project is only the beginning of a hydrocar-
heavily involved in the first phase of the project. bon-based adventure. Senegal's oil potential is
Two drillships, the Ocean BlackRhino and the estimated at 1,030 million barrels in four fields. 4
Ocean BlackHawk have been put to work. The first other deposits constitute the country's gas resour-
one landed in Senegalese waters on July 8, 2021. As ces estimated at 1120 billion cubic meters. These
for the second, it is expected to arrive in the second evaluations should generate 150 billion for the
half of 2022. The initial production plateau Senegalese economy according to estimates.

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