Off the shelf and bespoke solutions
The potential revealed by the Senegalese sedimentary basin through the impressive oil and gas discoveries, places Senegal in a promising economic perspective. Thus, covering our hydrocarbon needs will have to significantly reduce the oil bill.
World-class deposits
Thanks to the discovery of oil announced on October 7, 2014 as part of the CRPP between the State of Senegal and the Association of Oil Companies (Capricorn Senegal (subsidiary of Cairn Energy) 40%, Conocophilips 35%, Australian Resources 15% and Petrosen 10%), the evaluation work made it possible to estimate the reserves at more than 640 million barrels of very good quality oil.
If the discovery of natural gas in the deep offshore Saint louis block made it possible to estimate 17 to 20TCF (between 480 and 560 billion m3) for the reservoir, that of Cayar Offshore Profond covers reserves of the order of 5 TCF of natural gas, the equivalent of 140 billion m3.
Regarding the offshore Sangomar block, operations will have to continue to decide on the commercial aspect of the discovery, development and production of hydrocarbons by 2020-2021.
For the natural gas discovered in the deep offshore Saint louis block, the next steps are to finalize the negotiations on the inutilization agreement and the marketing declaration that is expected in 2017. As for deep offshore Cayar gas, the contractor has notified the discovery and will have to submit the related evaluation program.
Marketing of petroleum products
In the field of refining, the State has reaffirmed the maintenance of the industrial option within the framework of the PES for the security of the continuous supply of the market. Since then, there has been an increase in SAR production from 749,000 tons in 2012 to 1,102,201 tons at the end of 2016, an increase of 47%.
Pending the materialization of national storage, the State has carried out the technical audit of all oil depots. Thus, 100% of the deposits have been declared fit to function and the depots closed in 2012 are reopened and operated again. Regarding Transport equalization arrears, estimated at F CFA 8 billion, the State already made a first refund of FF 1.4 billion CFA in 2016 for the benefit of distributors. The objective is to pay off all the debt in order to empower the Fund.
In addition, the State granted significant reductions in the prices of petroleum products between December 2015 and February 2016 of the order of 100 F/L on gasoline and diesel.
After a blocking of the prices of petroleum products over the period 2012-2014, the State increased road transport tariffs in 2014 for the benefit of oil operators (importers, distributors, wholesalers and retailers). This effort is estimated annually at nearly 26 billion CFA francs.
