Senegal: Woodside and SAR, promising prospects for the oil industry

Following the announcement of the availability of the first barrel from Sangomar on June 11, 2024, a delegation from Woodside Sénégal was received this Wednesday, July 24, 2024 by the General Management of Société Africaine de Raffinage (SAR). This meeting marks a key stage in the exploration of areas for future collaboration between SAR and Woodside Sénégal.

The Woodside Senegal delegation, comprising Vice President Mr Clive Jones and Woodside Senegal Director Mr Cheikh Guèye, was enthusiastically welcomed by SAR management. The main objective of the meeting was to align visions and discuss modalities for a mutually beneficial partnership.

As a reminder, SAR recently adapted its facilities as part of its ACATBS project to process Sangomar crude and increase its storage capacity. Thanks to these improvements, SAR's refining capacity has risen from 1.2 million tonnes to 1.5 million tonnes per year. This increase in capacity testifies to SAR's commitment to positioning itself as a key player in crude oil refining in Senegal.

Ahead of the forthcoming delivery of Sangomar crude to the Mbao refinery, Woodside Senegal was keen to meet with SAR authorities to align itself with the conditions for a win-win partnership. This collaboration is seen as a major opportunity for both entities to maximize their synergies and strengthen their respective market positions.

During the meeting, SAR informed Woodside of its ambitious development project, SAR 2.0. This project aims not only to increase refining capacity to 5 million tonnes to AFRI6 specifications, but also to diversify SAR's activities by moving into petrochemicals. This strategic diversification is designed to meet growing market needs and position SAR as a leader in the West African energy sector.

The visit of the Woodside Senegal delegation to SAR is a decisive step towards the realization of a strategic partnership. The frank and constructive discussions held during the meeting augur well for future collaboration between SAR and Woodside Sénégal. By joining forces, these two key players in the Senegalese oil sector are embarking on a path of sustainable, prosperous development.