Senegalese President Bassirou Diomaye Faye announced plans to renegotiate the country’s oil contracts, suggesting previous agreements could have been more favorable.
After taking office in March, Faye ordered an audit of the oil, gas, and mining sectors and emphasized the need for fairer terms with foreign operators.
His remarks follow Woodside Energy’s announcement of first oil production at the Sangomar field, where it holds an 82% stake, and the upcoming gas production at BP’s Greater Tortue Ahmeyim project. Faye aims to use these resources to develop other sectors.
