Senegal, a new oil and gas frontier in West Africa, plans to offer 109 oil and gas blocks to local and foreign investors as the country expands its petroleum sector and seeks new capital for exploration and production.
Energy and Petroleum Minister El Hadji Abdourahmane Diouf said Senegal has 113 oil and gas blocks, but only four are currently under contract.
“The remaining 109 will be put on the market,” Diouf told a local television channel.
He said President Bassirou Diomaye Faye’s administration wants to use the country’s oil and gas resources to create domestic companies capable of becoming major players in the sector.
“The president’s plan is to create local leaders in the energy, oil and gas sectors,” Diouf said.
