Senegal to rework oil and gas contracts “in the national interest”

Senegal

DAKAR, August 20, 2024 – Senegalese Prime Minister Ousmane Sonko has said the country will review its oil and gas contracts “to rebalance them in the national interest,” Reuters reported on Monday.

In March, an opposition party headed by now-President Bassirou Diomaye Faye won the country’s elections, with promises to renegotiate oil and mining contracts.

Since taking office in early April, President Faye has ordered an audit of the oil and gas and mining sectors. On Monday, the Prime Minister Sonko announced a committee of legal, tax, and energy experts had been established to review the oil and gas contracts.

Further details on the audits or any plans for renegotiating oil contracts have not been released.

Image of the Sangomar FPSO courtesy of Woodside Energy.