Following improvement in output, the government of Senegal has revised upward its 2025 oil output forecast for the Sangomar offshore field to 34.5 million barrels from the previous 30.53 million barrels.
In a statement on X on Monday, the country’s energy ministry revealed that the field has already produced more than 24 million barrels of oil between January and August this year.
Senegal also exceeded its target for the period of June to December 2024, producing 16.9 million barrels, compared to the initial target of 11.7 million barrels.
Sangomar, operated by Australia’s Woodside Energy, began commercial production on June 11, 2024, officially making Senegal an oil-producing nation.
The daily average output from the offshore field in 2024 stood at 55,000 barrels, with future potential of reaching up to 100,000 barrels per day.
The start of oil exports has boosted Senegal’s economy, with GDP surging 8.9% quarterly and overall economic growth reaching 11.5% in Q3 2024, compared to the same period in 2023.
Similarly, the International Monetary Fund (IMF) projected an economic expansion of 9.3% for 2025, reinforcing optimism.
Woodside accused of tax evasion in Sangomar
A few months after taking office, President Bassirou Faye began a review of oil and gas contracts signed by the previous administration, alleging fraudulent violations.
In his 2025 New Year speech, Faye vowed to ensure the “optimal and transparent exploitation of oil and gas resources for the benefit of the national economy and current and future generations.”
He stressed that existing contracts must be reviewed to align with Senegal’s economic interests.
However, in May 2025, Woodside sued the Senegalese government after being accused of tax evasion linked to the Sangomar project.
The Australian company insisted it had fully complied with Senegalese regulations, including the production sharing contract and the host government agreement since production began.
“Woodside strongly believes we have acted in accordance with applicable regulations, the Sangomar production sharing contract and the host government agreement, and there are no outstanding taxes payable,” the company stated.
Senegal also looks at gas
Nearly one year after striking first oil at Sangomar, Senegal achieved another milestone in April 2025 with the loading of its first LNG shipment.
British energy giant BP successfully lifted the cargo from the Greater Tortue Ahmeyim (GTA) offshore project, a joint development between Senegal and Mauritania.
With 15 Tcf of proven reserves, GTA is regarded as one of Africa’s deepest offshore ventures. It produced its first gas in January 2025, with Phase 1 of the floating LNG (FLNG) project designed to produce at least 2.3 million tonnes of LNG annually.
The project is operated by BP in collaboration with Kosmos Energy, Petrosen, and Société Mauritanienne des Hydrocarbures (SMH). BP has signed a 20-year long-term contract to lift LNG from GTA Phase 1.
Following this milestone, Senegal’s Prime Minister Ousmane Sonko announced that the country aims to end gas imports by 2026, as power plants are now exclusively fueled by domestically produced gas.
This will save the country over $200 million annually in gas imports.
“Starting in 2026, Senegalese gas will power our power plants. We will thus drastically reduce our dependence on imports and save around CFA140 billion per year,” Sonko said.
