By Biran Gaye
Prime Minister Ousmane Sonko has announced the creation of a commission of experts to renegotiate oil, gas and mining contracts to make them more beneficial to the population, marking a further step in their fulfilling their commitment to the Senegalese people.
“This commission responds to our commitment to correct the mistakes of the past,” Ousmane Sonko said on RTS.
“We have vigorously denounced the agreements concluded, which, most of the time, went against the strategic interests of Senegal and its people.”
Sonko reaffirmed their determination to review these agreements and rebalance them in favour of the national interest.
He added. “Our approach will be scientific, rigorous and methodical, by carefully analysing all aspects of these conventions. The first step will be to review these agreements in light of the legal bases on which they are based.”
Senegal, which became an oil producer last June, plans to begin exploiting its natural gas in the second quarter of 2024, according to reports. Ranked among the 25 least developed countries in the world, Senegal is banking on these resources to accelerate its economic development. However, the new authorities consider that the contracts signed under the previous regime are unfavorable and have therefore promised to renegotiate them.
The commission, composed of senior officials from the Senegalese administration and experts in oil, mining, taxation and economics, was officially launched on Monday by the Prime Minister, as reported by RTS on Monday.
Senegal commenced oil production in June at the Sangomar field, located in the center-west of the country, in partnership with the Australian group Woodside Energy. Natural gas production, meanwhile, is expected to begin in the second quarter of 2024 at the Grand Tortue/Ahmeyim (GTA) field, located on the border with Mauritania. This project is being developed by the British company BP, the American company Kosmos Energy, theSociétémauritanienne des hydrocarbures (SMH) and the Senegalese public company Petrosen.
