Total wants a slice (or two) of Senegal’s deepwater cake
French oil major Total is entering into the oil and gas exploration and production sector in Senegal with two agreements signed this week.
The company and the Republic of Senegal have signed two agreements enabling Total “to contribute to the exploration activities in Senegal’s deep and ultra-deep offshore.”
“An established player in refining and marketing in Senegal, Total is delighted to expand its presence in the country in the exploration & production segment. These agreements are part of the Group’s strategy to carry out exploration activities in new deepwater basins in Africa and leverage our world renowned expertise.”
“Total is pleased to be bringing our know-how to the promising exploration zones in Senegal,” said Patrick Pouyanné, Chairman and Chief Executive Officer of Total, following his meeting with the President of the Republic of Senegal.
The first agreement involves an exploration and production sharing contract for the Rufisque Offshore Profond block, which covers an area of 10,357 square kilometers. Total will be the operator with a 90% interest alongside Société Nationale des Pétroles du Sénégal (Petrosen), holding the remaining 10%.
The Group also signed a cooperation agreement with Petrosen and Senegal’s Ministry of Energy and Renewable Energy Development under which Total will perform studies to assess the exploration potential of Senegal’s ultra-deep offshore and become operator of an exploration block.
While the deals marks Total’s debut in the Senegalese E&P sector, the company has been present in Senegal since 1947 in the refining and marketing of petroleum products.
As for Senegal, the country was a home to the world’s largest offshore oil discovery in 2014 – the SNE-1, now operated by Cairn Energy. Cairn has since drilled several appraisal wells at the discovery, and is looking to develop it using an FPSO.
Offshore Energy Today Staff