• 4 minutes Phase One trade deal, for China it is all about technology war
  • 7 minutes IRAN / USA
  • 11 minutes Shale Oil Fiasco
  • 16 minutes Swedes Think Climate Policy Worst Waste of Taxpayers' Money in 2019
  • 8 mins China's Economy and Subsequent Energy Demand To Decelerate Sharply Through 2024
  • 7 hours What's the Endgame Here?
  • 1 hour Indonesia Stands Up to China. Will Japan Help?
  • 1 day Gravity is a scam!
  • 20 hours 10 Rockets hit US Air Base in Iraq
  • 13 hours US Shale: Technology
  • 16 hours Canada / Iran
  • 1 day Wind Turbine Blades Not Recyclable
  • 16 hours Remember: Only the Poor Can Reach the Kingdom of God
  • 22 hours IRAQ / USA
  • 1 day Tales From The Smoke Shack and beyond.
  • 1 day History’s Largest Mining Operation Is About to Begin
Russia Risks Gasoline Price Surge

Russia Risks Gasoline Price Surge

In 2019, the rise in…

Recession Fears Cap Oil Prices In 2020

Recession Fears Cap Oil Prices In 2020

The expectation is that oil…

New Oil Discoveries Are Drawing Supermajors To This Drilling Hotspot

Offshore Oil

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