The Event
Senegal became an oil and gas producer on June 11th with Woodside Energy's first oil extraction at the offshore Sangomar project located off the coast of Senegal.
The Sangomar project will produce oil and gas and includes a standalone floating production storage and offloading (FPSO) facility dubbed the Léopold Sédar Senghor FPSO with a 1.3 million-barrel storage capacity. Phase 1 of the project’s development includes 23 wells, divided into 11 production wells, 10 water injection wells, and 2 gas injection wells. 21 out of 23 wells have been drilled and completed, including nine production wells.
Phase 1 costs are estimated between $4.9 billion and $5.2 billion, and Woodside Energy expects commissioning activities and production ramp-up to continue through 2024. The crude quality is classified as Medium sour, with a ~31 degrees API similar to oil grades found in Oman and Norway and significant demand from European and Asian markets.
Woodside
