Woodside’s Sangomar field achieves first oil offshore Senegal
Woodside Energy has marked a significant milestone by achieving first oil from the Sangomar field offshore Senegal, the first of its kind in the country. The achievement not only highlights Woodside’s strategic execution capabilities but also establishes a new era in Senegal’s economic and industry development. The Sangomar Field Development Phase 1 includes a stand-alone floating production storage and offloading (FPSO) facility named after Senegal’s first president, Léopold Sédar Senghor, and is designed to support future expansions.
Strategic Importance of Sangomar’s First Oil
Meg O’Neill, CEO of Woodside, emphasized the historic nature of this achievement. She noted that delivering Senegal’s first offshore oil project amidst global challenges showcases Woodside’s project execution expertise. The project is not only expected to generate significant shareholder value under the production sharing contract but also strengthen Woodside’s position in global oil markets.
First oil achieved from Sangomar Field Development Phase 1 by Woodside Energy
Project Details and Future Prospects
The Sangomar FPSO, located about 100 kilometers offshore, is pivotal to Phase 1 of the development, featuring 23 wells, with 21 already drilled and completed. This phase has stayed within its budget estimate of $4.9-$5.2 billion. The oil quality from Sangomar, approximately 31 degrees API, is highly sought after, enhancing its marketability in Europe and Asia. The RSSD joint venture, led by Woodside with an 82% interest and Societé des Petroles du Sénégal (PETROSEN) holding 18%, continues its drilling campaign with expectations to increase production through 2024.
Economic and Social Impacts on Senegal
The project’s success is seen as a cornerstone for future growth and innovation in Senegal. Thierno Ly, General Manager of PETROSEN E&P, highlighted the milestone’s significance for the country’s social and economic development. This venture promises new opportunities for economic growth and social progress, underlining the importance of strategic international partnerships and local collaboration in achieving substantial industry milestones.
The timely completion and operational start of the Sangomar field is a testament to Woodside’s robust project management and strategic foresight. It not only boosts Senegal’s oil production capabilities but also positions it as a notable player in the global oil sector. The project is likely to encourage further international investment and technological advancements in Senegal, contributing to sustained economic growth.
The Sangomar Field Development Phase 1 is a testament to international cooperation and technological advancement, setting a precedent for future offshore oil projects in Africa. With continued focus on safety and strategic expansion, the Sangomar field is poised to be a key player in the global energy market.