Senegal oil, gas update.
Senegal’s oil and gas policy committee is putting the finishing touches to a revenue management law with the aim of presenting it to parliament before the 2019 budget debate in October. President Macky Sall recently held a national day of consultation to discuss the future of the nascent oil and gas industry, as civil society concerns over elite enrichment and transparency persist.
Oil and gas production will bring port infrastructure and service industry benefits, although probably not as much as the authorities hope.
Eventual domestic supply of gas will help alleviate Senegal’s chronic power shortages, but the infrastructure will take time to build.
Neighbouring The Gambia and Guinea-Bissau will see renewed offshore exploration interest, despite more challenging operating environments.
