Senegal Officially Launches Offshore Licensing Round
Senegal’s national oil company, Petrosen, on Tuesday officially launched the country’s first offshore licensing round, comprising 12 blocks in the MSGBC Basin.
Interested companies have six months to submit their bids, with final applications to be delivered to the Ministry of Petroleum and Energy on July 31, 2020.
Petrosen collaborated with TGS, GeoPartners and PGS to provide more than 14,000km of 2D data, over 10,000km2 of 3D data and over 50,000km2 of Multibeam data with shallow cores and geochemistry to interested parties. In addition, TGS acquired additional 3D seismic data to offer interested bidders an improved subsurface understanding.
“The launch of Senegal’s landmark license round is a seminal moment in the nation’s hydrocarbon history. TGS is delighted to be able to support this initiative with a full complement of regional data sets that should help E&P companies to de-risk their exploration activities as they seek to take advantage of a world-renowned oil and gas basin.” said Rune Eng, Executive Vice President, Southern Hemisphere at TGS.
The licensing round aims to increase investment in the country, providing short-and medium-term investment incentives and potential additional rounds. Senegal has had 8 major oil and gas discoveries since 2014 and is moving closer to becoming a large-scale oil and gas producer. Hosting a licensing round will draw interest from a wide variety of operators.
The first Senegal Oil & Power 2020 conference will be held on May 27-28, 2020 in Dakar, Senegal. The conference will be a vehicle to promote the new deep water licensing round, which was announced at the Africa Oil & Power Conference in Cape Town and for public-private partnerships spanning the value chain.