Senegal is highlighting 104 available oil and gas blocks to attract new operators and sign exploration contracts. Presented by Minister of Energy and Petroleum El Hadji Abdourahmane Diouf at African Energy Week 2026, the offering forms part of the reorganisation of the country's upstream sector into 113 blocks. Four are already under contract and five have been allocated to Eni for studies. The announcement opens a new promotional phase, but the number of blocks alone is not a measure of commercial potential or investment already committed.
This strategy comes as Senegal moves from exploration to production, following the start-up of Sangomar and the first LNG exports from the Greater Tortue Ahmeyim project. The government wants to broaden the operator base, diversify sources of capital and accelerate projects capable of supplying the domestic market. To convince investors, it will need to connect geological opportunities with practical financing conditions, infrastructure and markets.
A new upstream map
The March 2026 reorganisation distinguishes 65 onshore blocks and 48 offshore blocks. This structure gives the authorities a clearer basis for presenting opportunities, comparing areas and guiding discussions with companies. It does not mean all blocks are at the same stage of maturity. Some may have more comprehensive data, others will require additional seismic studies, and geological risk levels will vary by area.
The five blocks allocated to Eni for evaluation show that access to new areas can begin with a study phase before an exploration or production contract is negotiated. This approach reduces initial uncertainty for the investor and allows the state to better understand available resources. Study results, allocation criteria and any investment obligations will nevertheless need a clear framework to preserve transparency and equal access.
The four blocks already under contract also serve as a reminder that the portfolio presented to investors changes over time. It is therefore important to distinguish the total number of areas, those immediately available and those already subject to commitments. Detailed information on data, deadlines, fiscal terms and minimum commitments will help companies assess entry costs and develop realistic proposals.
Yakaar-Teranga at the heart of the gas ambition
Beyond the new blocks, Dakar is seeking partners to restart development of Yakaar-Teranga, a gas project placed under Petrosen's control following Kosmos Energy's withdrawal in April 2026. The field is presented as a resource that could supply power generation, industry and fertiliser production while retaining an export option. This range of uses could strengthen the project's economics if volumes and contracts are planned consistently.
Developing Yakaar-Teranga requires a credible development structure, partners capable of financing the facilities and identified buyers. The balance between the domestic market and exports will be decisive. International sales can help raise capital and revenue, but supply to Senegalese power plants and industries must also be guaranteed. Offtake contracts and processing and transport infrastructure will need to reflect these priorities before the project can reach an investment decision.
The minister described the ambition as a value chain extending from the well to the factory. This approach marks a shift in the debate: resources are no longer considered solely as volumes for export, but as a potential input for electricity and industrialisation. Local processing will not happen automatically, however. It requires networks, creditworthy customers, competitive energy and industrial policies capable of turning gas availability into manufacturing output and skilled jobs.
Refining and logistics complete the offering
Senegal is also studying a second refinery intended to process Sangomar crude. Société africaine de raffinage and Turkish company Yamata signed a memorandum of understanding in September 2026 for a facility announced at four million tonnes per year. The estimated cost is between $2 billion and $3 billion. The project opens opportunities in storage, distribution, logistics and petrochemicals, but its financing structure, schedule and commercial model still need to be clarified.
Local crude availability can support the plant's supply without guaranteeing its profitability. Investors will need to assess construction costs, the products to be manufactured, competition from imported fuels and regional markets. Storage and transport capacity will also need to evolve to deliver products to consumers. As with exploration blocks, statements of intent must be distinguished from final decisions and work actually started.
Attracting capital while strengthening local benefits
The government invites operators to examine the data, work with national technical teams and present projects backed by investment and execution capabilities. This requirement matters in a market where resource announcements and preliminary agreements do not guarantee project delivery. The decisive stages will be contract negotiations, confirmation of commercial prospects, financing mobilisation and the launch of operations.
Local content is also central to the message addressed to investors. Senegalese businesses and national expertise must be involved from project design, rather than only during execution. This requires visibility on tenders, training programmes, certification arrangements and access to financing for suppliers. A well-prepared local content policy can increase economic benefits without compromising technical requirements or schedules.
Regional cooperation in the MSGBC basin can strengthen investment value by facilitating data sharing, infrastructure and markets. Senegal wants to expand this alliance, which currently brings together Senegal, Mauritania, The Gambia, Guinea-Bissau and Guinea. Deeper integration could improve opportunities for gas and services, but will require precise agreements on tariffs, trade flows and project coordination.
The offering of 104 blocks reflects Dakar's determination to maintain active exploration as the first production projects enter service. The success of this strategy will depend on data quality, stable rules and the ability to turn investor interest into contracts and then operations. For Senegal, the objective is not simply to sign more agreements, but to ensure that resources provide lasting support for energy security, industry and local skills.