Senegal’s national oil company, Petrosen, plans to finalize its investment decision (FID) on the Yakaar-Teranga gas project by mid-2025, according to director general Thierno Ly.
Ly expressed optimism during a statement on Tuesday, saying, “Yes, our objective is to have this FID by mid-2025 if everything is going OK.”
The project, developed in partnership with Kosmos Energy, contains approximately 25 trillion cubic feet of recoverable gas.
The initial phase is expected to cost $5 to $6 billion, producing three million tons of liquefied natural gas annually for export and providing 150 million standard cubic feet for local power generation.
Following BP’s withdrawal last year, Petrosen is actively seeking new partners for the venture.
“We are looking at IOCs, national oil companies from the Middle East and Algeria,” Ly stated.
“We are also open to discussions with trading companies.”
With this project, Senegal aims to strengthen its position in the global energy market, making the upcoming FID a pivotal step in its gas development strategy.
