Senegal Offers 104 Oil and Gas Blocks, Seeks New Upstream Contracts

Senegal is offering 104 oil and gas blocks to investors as it seeks new upstream contracts to accelerate exploration and production, Energy and Petroleum Minister El Hadji Abdourahmane Diouf said at African Energy Week 2026 in Cape Town.

Of the 113 blocks in Senegal’s reorganised acreage, four are under contract and five have been allocated to Eni for studies, he said.

Diouf said Senegal hoped to sign several contracts and demonstrate that it remained open to investment and committed to international procedures.

Senegal reorganised its upstream acreage into 113 blocks in March 2026, comprising 65 onshore and 48 offshore blocks. It also signed an agreement with Eni to assess the oil and gas potential of five offshore blocks.

The country is also seeking partners to develop the Yakaar-Teranga gas project alongside national oil company Petrosen, which took full control of the project after Kosmos Energy withdrew in April 2026.

Diouf said the project would supply gas for power generation, industrial uses, including fertiliser production, and exports. Its development would require a clear structure, credible buyers and a defined investment programme, he added.

“Our strategy is to build the value chain from the well to the factory, with gas at the heart of our industrial ambition,” he said.

In the downstream sector, Diouf highlighted plans for a second refinery to process crude from the Sangomar field, at an estimated cost of $2 billion to $3 billion.

Société Africaine de Raffinage (SAR) and Turkey’s Yamata signed a memorandum of understanding in New York on September 23, 2026, for the refinery, which would have a capacity of 4 million tonnes a year.

Diouf said the project would create further investment opportunities in storage, logistics, distribution and petrochemicals.

He urged investors to review Senegal’s geological data, engage with its technical teams and submit proposals backed by the financial and operational capacity to carry them out.

He also called on investors to involve Senegalese companies and workers from the outset, with support from the national local content monitoring committee.

“Capital must earn a return. Senegal must gain a stronger economy. The partnership we seek must serve both purposes,” he said.

Diouf said Senegal also hoped to expand cooperation under the MSGBC alliance beyond Mauritania, Senegal, The Gambia, Guinea-Bissau and Guinea. He did not identify the additional countries being considered.