It seems we have early movement on two of the new Senegalese...

It seems we have early movement on two of the new Senegalese offshore blocks - Senegal Offshore South (SOS) and deep offshore Senegal (SOSP) - with EOIs due by 31 Oct. I would expect FAR/CNOOC to be in the mix.

A dozen new blocks (including the above two?) to be tendered in H1 2019 vs the previous guidance of 10 - not surprisingly, interest levels must be through the roof!

gh.

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Link to Article
Oil and gas: Senegal puts on the market two new blocks by tender

By The Tribune Africa  |  02/10/2018

The Senegalese government has just put on the market, two new offshore blocks. This time, it is through a call for tenders that the exploitation licenses will be granted in accordance with the commitments of the authorities as part of the reform of the current petroleum code.
The government will sell two new blocks, " Senegal offshore south (SOS) " and " deep offshore Senegal (SOSP), " reported Tuesday, October 2, the official news agency APS quoting a statement from the Society of oil from Senegal (PETROSEN). In the statement, the state-owned company announced the availability of offshore blocks for licensing, through a bidding process, and has therefore invited interested oil and gas companies to demonstrate their interest by 31 October at the latest.

This is the first time that a tendering procedure has been opened for the granting of licenses, a measure that follows the commitments made by President Macky Sall at the end of the National Conference on Natural Resources which was held in June. The head of state then announced that the transfer of the blocks will now be through competitive bidding, as the participants in the conference have largely formulated to ensure the proper exploitation of natural resources, including oil and gas. gas. " In the oil code that we are drafting and which will have to be adopted, this is what we adopted as a step. That is, the blocks will be assigned by tender, "said President Macky Sall.
Transparency

While the first licenses were granted under conditions that were critical by national experts as well as civil society associations that denounced " total opacity ", this time the government decided to take the lead. By now favoring tenders, the authorities intend to meet the various demands for transparency in activities related to the exploration and exploitation of oil and gas. The procedure will be formalized in the various texts that will govern the sector including the new Petroleum Code, the orientation law on the distribution of oil and gas revenues, and the law for framing and development of local content. . Draft laws that are being finalized and that will enable the country to better ensure efficient management of its resources.

Next year, Senegal aims to sell a dozen new oil blocks as announced by Petrosen's chief executive, Mamadou Faye, who said the new licenses will be awarded in accordance with the new legislation and the new regulatory framework. will enter into force by the end of this year. "I can tell you today that we are preparing a new law that we will be publishing this year.After the law, we will open most of the oil blocks that are not available today, "said during his speech at the 2018 edition of the Africa Oil & Power conference, which September in Cape Town, South Africa.

With oil production capacities estimated at between 200,000 and 300,000 barrels a day over several years, Senegal has great ambitions for the exploitation of its oil, which is expected to start in 2021.