Senegal joins circle of oil-producing countries

Jun 12, 2024, 11:51 AM

It’s now official! Senegal has just joined the circle of oil-producing countries. Indeed, the company Woodside Energy Group Ltd announced on Tuesday that it had “obtained the first oil from the Sangomar field off the coast of Senegal, marking the safe delivery of the country’s first offshore oil project”. A decisive turning point which launches the start of production.

Exploitation of the Sangomar oil field; the cost of the first phase estimated at $5.2 billion.

The first phase of the development of the Sangomar field is a deep-water project comprising an autonomous floating production, storage and unloading installation - notably the FPSO Léopol Sédar Senghor moored 100 km off the coast of Dakar - with a nominal capacity of 100,000 barrels/day. It also includes an underwater infrastructure designed to prepare for subsequent development phases.

The ship named after Senegal's first president has a storage capacity of 1,300,000 barrels. In total, 23 wells (11 production wells, 10 water injection wells and 2 gas injection wells) will be affected by the first phase. Note that 21 of the 23 wells have been drilled and completed, including 9 production wells.

The joint venture Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD), composed of Woodside (operator and 82% participation) and the Société des Petroles du Sénégal (PETROSEN, 18% participation) which is leading the project, has also approved the drilling of a 24th production well. This will be completed during the current campaign.

According to Zonebourse.com, the cost estimate for phase 1 of the Sangomar field development project remains within the expected range of 4.9 to 5.2 billion USD.

Source: Seneweb.com