that of Senegal the energy industry is one of the africa most watched energy sectors in 2021, with its major oil and gas projects drawing both regional and international attention. Committed to harnessing the power of its oil and gas resources to stimulate socio-economic growth and regional energy expansion, and supported by a national development model – the Emerging Senegal Plan – Senegal works in collaboration with international oil companies (IOCs) and regional partners to position itself as a globally competitive hydrocarbon producer. In 2021, the country recorded several important achievements regarding its two main energy projects, and during the African Energy Week (AEW) 2021 in The cap, and MSGBC Oil, Gas & Power 2021 in December, these advances will be promoted and celebrated.
First africa Natural gas growth
As one of the africa main natural gas markets, with more than 450 billion cubic meters of reserves, Senegal Aggressively continues to expand its industry with the aim of establishing the country as a regional gas producer and exporter. This is the biggest project, the Liquefied Natural Gas Greater Tortue Ahmeyim (GTA) (LNG), is the continent’s deepest offshore project and is expected to release around 15 trillion cubic feet of gas. Jointly developed by BP, Cosmos Energy, Petroleum Company of Senegal (Petrosen) and the Mauritanian Hydrocarbons Company (SMHPM), with BP as operator, the project has set a high standard for other African gas markets seeking to strengthen their development.
In 2021, the project made significant progress, with phase 1 reaching 58% completion by the end of the first quarter. With Phase 1 expected to be 80% complete by the end of 2021, the project is on track to achieve first gas production and delivery in 2023. August 31, 2021, the GTA project was approximately 65% complete. In addition, co-developer of the project Cosmos Energy announced the completion of the sale of the floating, production, storage and offloading (FPSO) GTA vessel, which secured additional funding for the company’s future development costs on the project. Despite COVID-19 delays, the project is moving forward, demonstrating the value of political will, industry collaboration, and gas-focused investments.
Recently, the African Energy Chamber (ACS) met that of Senegal oil companies, with high-level discussions on how to strengthen local content and support the progress of national oil companies and services in that of Senegal emerging natural gas sector. The two that of Senegal the government and the ACS are committed to improving the domestic natural gas market, recognizing the role that national oil companies will play in stimulating investment and development. As a result, the discussions highlighted the value of improving fiscal conditions, making them more attractive to oil companies, as well as capacity building, and how oil companies can and should support each other in the country’s energy growth. .
In line with this goal and focusing primarily on improving national capacity, the AEC has committed to supporting both the upcoming MSGBC Oil, Gas & Power 2021 conference, to be held in Dakar December 2-3, and HE the President Macky sal as he leads the country into a new era of industry expansion. The event is considered as HE President Macky sall’s official energy event 2021, organized by Energy capital and electricity and in partnership with the Ministry of Petroleum and Energy, Petrosen and Cos-Petrogaz. Following the AEW 2021 agenda to promote opportunities and investments in that of Senegal lucrative natural gas sector, MSGBC Oil, Gas & Power 2021 will feature presentations and collaborative discussions on the future of that of Senegal energy industry.
that of Senegal Oil developments are advancing
At the same time, on the oil front, the Australian oil and gas company Woodside Energy finalized the acquisition of FAR’s entire stake in the Sangomar development – covering FAR’s participation in the Rufique Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture. With Sangomar’s development comprising the country’s first offshore oil development, with an estimated production target of 231 million barrels of oil, the acquisition is expected to accelerate development, positioning the country as one of the major oil producers.
The development of the Sangomar field remains on track for the first oil in 2023. Notable achievements of 2021 include the arrival of the VLCC tanker at the shipyard for its conversion into FPSO in January 2021 and the launch of the drilling campaign. The launch includes Phase 1 of offshore development with two drilling vessels, the Ocean BlackRhino and the Ocean BlackHawk performing the drilling. From August 2021, drilling was 35% completed, demonstrating that the project remains on track and is progressing at a satisfactory pace.
With a strong Senegalese delegation coming The cap in November, led by HE Aissatou Sophie Gladima, Minister of Petroleum and Energy, as well as that of Senegal national oil company, Petrosen, and the COS-Petrogaz strategic organizing committee, the country’s significant opportunities and industry-wide achievements will be presented to global stakeholders. AEW 2021 has put oil and gas at the center of africa energy strategy and by promoting the various achievements of CIOs and National Oil Companies in Senegal, the event further positions the country as one of the africa main hydrocarbon markets.
AEW 2021, in partnership with South Africa Department of Mineral Resources and DMRE energy, is the ACS annual conference, exhibition and networking event. AEW 2021 brings together African energy players with international investors and partners to drive industry growth and development and promote Africa as a destination for energy investments.
Distributed by APO Group on behalf of the African Chamber of Energy.
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