Senegal: "Out of 176 wells drilled, 160 were failures" (Aïssatou Sophie Gladima)

The first barrels of oil and gas are expected in the fourth quarter of 2023 in Senegal. Indeed, the discovery of gas deposits in Senegalese waters will undoubtedly have an impact on the lives of the Senegalese. 
While the cost of drilling a well is estimated at between CFAF 50 and 100 billion, oil and gas development in Senegal remains expensive and risky.

As evidence, out of 176 wells drilled (91%) 160 were failures, a success rate of 10%.

Thus, of all the states that exploit oil and gas, only Saudi Arabia engages in these operations where the probability of losses is real. No state will venture into oil and gas exploitation on its own.
The Minister of Oil and Energy, Aïssatou Sophie Gladima, during an information and sharing workshop with the Collective of Economic Journalists of Senegal (Cojes) on the energy sector, assured that there were two phases in the exploitation contract. 
"There is what is called the research phase. In this research phase, Petrosen invests 10% and 10% is borne by the company. If out of 1000 fr, I put 100fr, the other puts 900fr. The State of Senegal cannot and many other states cannot do it," said the Minister of Oil and Energy. According to the latter, only private companies that have several multinationals and that are involved in several sectors can afford to take these risks. Especially since drilling operations cost an arm and a leg. 
"Imagine how many billions are put into a borehole. A borehole costs no less than 150,000 dollars. Senegal is responsible for 10%, once we find it, it's safe now and once we have removed all the expenses we take from the barrels produced, Senegal will have 35%. Now, depending on the daily production, it is said that it is between 51 and 64%. Because today you can produce 5 barrels as well as tomorrow you can produce 3 for technical or other reasons", explains Minister Aïssatou Sophie Gladima.