Senegal’s state-owned oil company Petrosen will invest at least $100 million this year to accelerate onshore oil and gas exploration, targeting new crude discoveries in the country’s largely underdeveloped inland basins. The programme comes on the heels of regulatory reforms and the revocation of licences from operators that failed to advance seismic surveys or drilling activities, signalling a tougher government stance on inactive acreage.
Petrosen CEO Alioune Gueye said the geological logic behind the push is compelling. “Given the discoveries offshore, there is strong geological reasoning to expect similar potential onshore,” he said. Energy Minister Birame Souleye Diop confirmed that licences were revoked from operators including Oranto Petroleum after limited progress on agreed exploration programmes, even after deadline extensions.
Senegal has recently joined the ranks of Africa’s hydrocarbon producers through two major offshore projects: the Greater Tortue Ahmeyim (GTA) LNG development led by BP, which began exporting cargoes in early 2025, and the Sangomar oil project operated by Woodside Energy Group, which commenced production in 2024. Despite some initial schedule delays, both projects have helped anchor Senegal’s emergence as a regional energy player. BP’s 2023 exit from the Yakaar-Teranga gas project — over disagreements about gas monetisation — led Kosmos Energy to increase its stake from 30% to 90%; BP remains active in Senegal through the GTA project.
Senegal holds proven oil reserves of approximately 1.03 billion barrels and an estimated 450 billion cubic feet of natural gas reserves. By pairing offshore production with renewed inland exploration, the country is aiming to build a second wave of upstream growth, expand its hydrocarbon base, and consolidate its standing as an emerging oil and gas hub in West Africa.
SOURCE: angolanminingoilandgas.com