During African Energy Week 2025, held in Cape Town, the Minister of Energy, Petroleum and Mines, Birame Souleye Diop, announced the launch of a process to revise the country's oil and gas codes. This highly strategic initiative is part of the preparations for the MSGBC Oil, Gas & Power 2025 conference, scheduled to take place in Dakar on 9 and 10 December.
The minister said that this reform aims to adapt the national regulatory framework to Senegal's new energy reality, now in the production phase with the Sangomar and GTA projects. "Senegal is currently reviewing all its codes, as well as developments in the electricity sector, in order to create a framework conducive to industrialisation," he said, emphasising the government's desire to build an environment conducive to competitiveness and sustainability.
According to the minister, the proposed changes will place particular emphasis on transparency, promoting local content and strengthening national economic benefits. The stated objective is clear: to ensure that Senegalese people benefit more directly from the income generated by the country's natural resources, while reassuring investors about the stability and predictability of the operating environment.
This revision of the texts is primarily intended to be a tool for building trust. By clarifying the rules on participation, profit sharing and market access, the Senegalese government hopes to consolidate the country's credibility with the major players and independent operators in the sub-region. In a context of intensifying competition between African jurisdictions, a coherent and modernised legal framework is an essential lever for maintaining the attractiveness of the MSGBC basin.
But beyond the economic dimension, this reform also aims to improve governance in the sector. Senegal, a member of the Extractive Industries Transparency Initiative (EITI), intends to strengthen its monitoring and evaluation mechanisms to ensure rigorous and equitable management of oil and gas resources.
The Ministry of Energy hopes that this legislative overhaul will increase national participation in energy value chains. The new provisions should encourage greater involvement by local companies in exploration, production and service activities, while promoting skills transfer and technical training for young people.
This process is part of a broader vision of energy-based industrialisation, in which oil and gas resources become a catalyst for development in the country's manufacturing, chemical and energy sectors. The electricity sector is not being left behind: the revision of the codes will also take into account the need for a coherent and integrated framework between hydrocarbons and renewable energies.
During the same session in Cape Town, Lamin Camara, Permanent Secretary at the Gambian Ministry of Petroleum and Energy, confirmed that The Gambia was in the final stages of negotiations for the award of drilling licences, with the aim of announcing new agreements before the MSGBC conference. This trend illustrates a clear regional dynamic: the countries of the MSGBC basin (Mauritania, Senegal, The Gambia, Guinea-Bissau and beyond) are seeking to harmonise their energy policies and position themselves as an attractive hub for investment.
However, this modernisation effort is not without its challenges. The first lies in striking the right balance between attracting investors and maximising public revenue. Too much fiscal rigidity could slow investment flows, while an overly permissive approach could weaken the national benefits.
The second challenge concerns the country's institutional capacity to effectively lead and implement these reforms. The success of this project will depend on coordination between the various stakeholders, ministries, regulatory authorities, national companies, civil society and international partners. Finally, the practical implementation of local content measures will be a real test of Senegal's political will to make energy a lever for economic inclusion.
The coming weeks will be decisive for the revision process. The draft new codes are expected to be submitted for public consultation before being finalised ahead of the MSGBC 2025 conference. If these reforms are completed on schedule, Senegal could strengthen its position as a regional leader in energy governance and establish its reputation as a model of balanced natural resource management.