Oil: Economic Rebirth in Senegal?
Senegal has entered the league of oil-producing nations with the first barrels extracted from the Sangomar field off Dakar on June 10. This project, requiring $5 billion in investment, targets 100,000 barrels per day. Ameth Guisse, CEO of Maak Petroleum Company, sees it lowering energy costs and enhancing competitiveness.
Concerns linger over the exploitation contracts. Currently, Australian company Woodside holds 82% of Sangomar, leaving 18% to Senegal, with profits ranging from 15% to 40%.
Senegalese economist Ousmane Dieng highlights the financial windfall aiding double-digit growth and local economy funding, stressing the need for strategic…
