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Senegal has interested oil and gas companies for over 60 years,
but it is only in the last three years that the country has come to
the fore as a potential world-class hydrocarbon basin. In
2014, Cairn Energy plc and its partners drilled a number of wells
in the SNE field in the south, which they estimated to contain
2C oil resources of 641 million barrels.1 In the north, Kosmos has discovered
huge gas reserves that straddle the northern Senegal-Mauritania
border and which are estimated to hold more than 50 tcf of resource
potential.2
If the oil and gas potential of these reservoirs is confirmed,
Senegal's oil and gas industry has the potential to radically
transform the country. These exploration successes in Senegal have
put a spotlight on the legal regime for oil and gas and the
suitability of the regulatory framework to support the major scale
investment that such discoveries will require.
