Woodside Energy commences production at Senegal's Sangomar offshore oil field
- Woodside Energy has officially started production at the Sangomar oil field in Senegal, marking a significant milestone for the country's oil industry.
- The Australian group's announcement signals the beginning of offshore oil extraction in Senegal's coastal waters.
- Senegal's entry into offshore oil production is expected to have economic implications and opportunities for the country.
Production has started at Senegal's first offshore oil project, with Woodside Energy leading the initiative. The project aims to produce 100,000 barrels of oil per day from the Sangomar oil fields located 100 kilometers offshore. Senegal's government, under new leadership, is focused on maximizing profits from natural resources by reviewing existing oil and gas contracts with foreign companies. President Bassirou Diomaye Faye emphasized the importance of transparent ownership and auditing in the extractive sector. Woodside Energy holds an 82% stake in the project, with Petrosen owning the rest. Despite not being a major fossil fuel producer like Nigeria, Senegal anticipates generating over $1 billion annually from the sector. Additionally, the country is set to begin extraction at a liquified natural gas project near Mauritania, aiming to produce 2.5 million tons of LNG per year.