Senegal seeks to avoid the oil curse

Offshore oil and gas is set to flow within five years, and Senegal is bracing itself for the impact

Senegal's aspirations to become a major hydrocarbons producer are moving ever closer to realisation. Determined that the West African state should avoid the financial mismanagement that has dogged many an oil-rich African country, President Macky Sall is hurrying to implement a regulatory and legislative framework. Senegal is basing plans for its new life as a gas and oil producer on an annual government revenue flow of CFA600bn ($1.04bn) from the two prospective hydrocarbons ventures—the SNE oilfield and the Greater Tortue/Ahmeyim gas project. Both are scheduled to start producing export revenues in the early 2020s. Based on a highly conservative $38.7/barrel average future oil price, this