• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 3 hours Would bashing China solve all the problems of the United States
  • 6 hours Yale University Epidemiologist Publishes Paper on Major Benefits of Hydroxchloroquine for High-risk Outpatients. Quacksalvers like Fauci should put lives ahead of Politics
  • 1 hour Model 3 cheaper to buy than BMW 3 series.
  • 27 mins Thugs in Trumpistan
  • 10 hours Pompeo's Hong Kong
  • 1 day China to Impose Dictatorship on Hong Kong
  • 41 mins China To Boost Oil & Gas Exploration, As EU Prepares To Commit Suicide
  • 20 hours COVID 19 May Be Less Deadly Than Flu Study Finds
  • 14 hours China’s Oil Thirst Draws an Armada of Tankers
  • 9 hours Income report showing potential future spending and economic growth
  • 2 hours Coronavirus hype biggest political hoax in history
  • 10 hours US-China tech competition accelerates: on Friday 05/15 new sanctions on Huawei, on Monday 05/18 Samsung chief visits China
  • 11 hours The CDC confirms remarkably low coronavirus death rate. Where is the media?
  • 2 days 60 mph electric mopeds
Europe’s Gas Glut Could Hit Global LNG Market Hard

Europe’s Gas Glut Could Hit Global LNG Market Hard

Although LNG flows into Europe…

A Nightmare Scenario For Offshore Oil

A Nightmare Scenario For Offshore Oil

The offshore oil industry is…

New Oil Discoveries Are Drawing Supermajors To This Drilling Hotspot

Senegal, a West African country which has seen several major oil and gas discoveries in recent years, is launching a new licensing round to award three offshore blocks as it expects its first already sanctioned oil and gas projects to come online by the middle of the next decade.

“We are launching today for the first time in the history of petroleum exploration in Senegal a licensing round of three blocks of sediment basin,” Reuters quoted Senegalese Oil and Energy Minister Mahamadou Makhtar Cisse as saying at an oil conference in South Africa.  

The licensing round will be promoted at international oil conferences in London, Houston, and Dakar during a first phase of the process, while energy companies will be able to evaluate the blocks’ potential between the end of January and end of July 2020, the minister noted.

In recent years, Senegal has seen a lot of predominantly natural gas discoveries offshore, most of which shared with neighboring Mauritania.

Experts think that the country, a rare island of stability in West Africa, can escape the ‘resource curse’ that has plagued other African oil and gas producers such as Angola or Nigeria.

The U.S. helps Senegal defend against extremists, and sees the country as “this island of stability and prosperity and security,” Counterterrorism Coordinator Ambassador Nathan Sales told VOA this week.

In Senegal and Mauritania, BP and its partners announced in December 2018 the final investment decision for the cross-border liquefied natural gas (LNG) development Greater Tortue Ahmeyim.

Related: Egypt Prepares For A Renewable Energy Revolution

Cairn Energy said in September that it expects to take FID on the SNE development in Senegal this year, and the project remains on schedule for first oil in 2022.

Last month, BP announced a major gas discovery offshore Mauritania, in the MSGBC (Mauritania-Senegal-Gambia-Bissau-Conakry) basin. Rystad Energy estimated this discovery is the deepest and largest gas discovery so far this year.  

“Mauritania and Senegal are slowly becoming world-class LNG centers, with three different planned hubs containing around 10 million tonnes per annum (tpa), including the Yakaar-Terenga hub, Tortue hub, and the Bira Allah hub,” Rystad said.  

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News