Exploration, associated services and energy transition opportunities in Senegal were unveiled at the reception Invest in African Energy in London on 26 January, organised by the African Energy Chamber. The presentation by Mamadou Fall Kane, Deputy Permanent Secretary of COS Petrogaz, is entitled First Gas : Senegal’s Energy Future.
Created in 2016, COS Petrogaz's mission is to define, implement and monitor the country's hydrocarbon sector strategy, with a view to ensuring the successful development of its oil and gas projects.
Senegal has significant oil and natural gas reserves (estimated at 1.03 billion barrels and 910 billion cubic metres, respectively) as well as strong renewable energy potential and a geostrategic position on the west coast of Africa. With mega projects such as the Sangomar field development, the Ahmeyim Grand Turtle liquefied natural gas and the Yakaar-Teranga development due to come online by 2025, the presentation identified opportunities across the entire value chain of these oil and gas services projects, including drilling contracts, production and maintenance.
« L’année prochaine, notre taux de croissance devrait être de 10%, c’est-à-dire qu’il y a une transformation importante dans le pays. »
Mamadou Fall Kane, COS Petrogaz
"The quality of Senegalese gas meets all expectations. Moreover, by this time next year, Senegal will be an oil producer, producing 100,000 barrels of oil from the Sangomar project operated by Woodside," noted Fall Kane.
Other upstream opportunities include 12 blocks currently open for licensing and located around the existing Rufisque Offshore Profond (ROP) and Ultra Deep Offshore (UDO) exploration activities, available for block acquisition, leasing, surveying, seismic acquisition and interpretation, civil works and associated contracting. For large and junior explorers, Senegal offers a long history of exploration, a wealth of geological and seismic data from its basins, an attractive fiscal framework and a stable national oil company, Petrosen, the industry leader.
"Next year, our growth rate should be 10%, which means that there is an important transformation in the country. This is the time to invest.
Mamadou Fall Kane, COS Petrogaz
The Deputy Permanent Secretary also presented Senegal's gas-to-power strategy, which aims to provide reliable and affordable energy, in particular through the first phase of Yakaar-Teranga, which will provide gas for domestic power generation. Investment opportunities within the natural gas value chain in Senegal include the construction of gas infrastructure, conversion of oil-fired power plants, construction of new gas-fired power plants and ancillary activities. Through the exploration and monetisation of its gas reserves, Senegal hopes to establish itself as a petrochemical and mining hub, as the West African nation is also home to between 500 million and one billion tonnes of phosphate reserves and 630 million tonnes of proven iron ore reserves.
In terms of energy transition, Senegal has significant solar potential (>240 MW per km2) 2 ), wind (>350 MW per ?) and hydro (>1,400 MW). By harnessing its renewable resources, Senegal also has the potential to become a major producer and exporter of low-carbon hydrogen and ammonia, generating green solutions in agriculture, chemicals, shipping and sustainable steel production.