Huge gas reserves found off Senegal

2016-01-28 19:41

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Dakar - Senegal on Thursday hailed the discovery of offshore gas reserves estimated at 450 billion cubic metres as a game changer for the west African nation.

US firm Kosmos said its Guembeul-1 exploration well, located in the northern part of the Saint Louis Offshore Profond licence area in Senegal, had made a "significant gas discovery."

The company said it was a "world class gas resource that extends into both Senegal and Mauritania."

"This is the best news possible for our country," said Energy Minister Thierno Alas sane Sall on state television.

He said this would allow Senegal "to be self-sufficient in energy and also export gas to the rest of the world."

Dallas-based Kosmos Energy has since 2014 had exploration rights off Senegal.

The government said it was "the biggest gas reserve in west Africa" in an offshore area shared between Senegal and Mauritania.

Kosmos said it had signed agreements with the national oil companies of Senegal and Mauritania to jointly develop the offshore field.

The company holds 60% of the rights to the field, with Timi Corporation owned by Romanian-born tycoon Frank Timi holding 30% and Senegal's Petrosen national oil company holding the remaining 10%.

Read more on:    senegal  |  west africa

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.