NOC don't normally have the same investment criteria, 10% ROI is considered near cost neutral by most oil companies due to investors minimum return on investment. NOCs usually just need to show breakeven.
NOCs primary role is to ensure government influence within the JV, so developments can be influenced in the countries national interest. This is too important for Senegal not to take maximum stake in.
Add on the political side, there is debate within Senegal if government take is too low - it would be be the political equivalent of shooting themselves in the foot if international oil companies are willing to invest for development, and the government doesn't maximise participation. When the governments position in power is on the line, they find money pretty quickly.
In third world countries, projects like this are very politically popular.
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