By Thomas Hedley, Field Editor
Along with Grand Tortue/Ahmeyim field’s final investment decision (FID) signed at the end of 2018 and presidential elections coming up in the country in February, Senegal’s new petroleum law is one of the three major initiatives to come through in 2019.
The draft, which heavily focuses on local content policies, is currently at its last stage of approval. On January 24, the soon-to-be law will be presented to the National Assembly, following a presentation to technical commissions by Minister of Petroleum Mansour Elimane Kane.
The current petroleum code was introduced in 1998 and although it remains fairly up-to-date, the recent discoveries in the country’s offshore basin require a modernisation and to include key subjects such as local content, improved block licensing process, transparency among others.