Senegal's national oil company, PETROSEN, is preparing to invest $100 million in an ambitious onshore exploration programme starting in 2026. This initiative, revealed by the Holding Company's Managing Director, Mr Alioune Gueye, during an interview with Bloomberg on the sidelines of a meeting in London on 10 February, aims to intensify the search for new oil and natural gas deposits on the continent in order to renew reserves and consolidate the country's energy sovereignty.
According to Mr Gueye, this budget, equivalent to approximately 55 billion CFA francs, will be allocated to the subsidiary PETROSEN EXPLORATION & PRODUCTION, which is responsible for managing the project. "Since we have already made discoveries offshore, it is logical to think that we have the same potential onshore," he said. "We are investing at least $100 million to launch this exploration," he added, emphasising the company's commitment to taking the lead in this under-explored area.
The strategic objective is clear: to extend offshore successes to continental sedimentary basins. As the Chief Executive explained, "offshore discoveries could find natural extensions in continental sedimentary basins, as geology knows no boundaries". By investing in Senegal's largely unexplored onshore areas, PETROSEN hopes not only to make the next major discoveries itself, but also to encourage international partners to take a greater interest in this promising area of the sedimentary basin.
"We hope to make a major discovery in our onshore basin by the end of the year," concluded Mr Gueye, highlighting PETROSEN's ambition to maximise economic benefits for Senegal. This approach is part of a broader strategy to ramp up the national company, which, since the start of joint venture operations at the Sangomar oil and Grand Tortue Ahmeyim (GTA) gas fields, aspires to become a fully-fledged operator and to be present across the entire hydrocarbon value chain.
As a reminder, the first commercial discovery of onshore gas in Senegal dates back to 1993, with the DN-14 well in Diamniadio, which was immediately put into production by PETROSEN. After several decades of relative inactivity in this sector, this relaunch of onshore exploration appears to be an urgent necessity. It aims to firmly establish Senegal among Africa's leading hydrocarbon producers, strengthen local content and promote national expertise, thereby contributing to greater energy independence and sustainable economic development.
This announcement comes at a time when Senegal's energy sector is experiencing positive momentum, driven by recent offshore advances. Experts in the field welcome this initiative as a decisive step towards diversifying resources and increasing attractiveness for foreign investors. By taking on a leadership role, PETROSEN could well pave the way for new opportunities for the national economy.