DGAP-News Senegal Already Produces Gas: Investors Should Look Onshore

Nachrichtenquelle: EQS Group AG
15.01.2021, 12:10  |  128   |   |   

DGAP-News: African Energy Chamber / Key word(s): Miscellaneous
Senegal Already Produces Gas: Investors Should Look Onshore

15.01.2021 / 12:10
The issuer is solely responsible for the content of this announcement.


Senegal Already Produces Gas: Investors Should Look Onshore

15 January 2021, Dakar - Senegal is the hotspot for energy investment in West Africa right now, owing to a string of huge offshore hydrocarbons discoveries since 2014 (as well as its compelling renewables potential). The emergence of Senegal as a regional energy power is an exciting story. But for almost two decades, in fact, the country has been producing its own natural gas onshore, an hour's drive from Dakar. Further investment could unlock Senegal's onshore potential.

Image: https://bit.ly/2LxvLSM

Introducing Onshore Senegal
Fortesa International, led by CEO Rogers Beall, started exploring in Senegal in 1997 and from the start, Beall aimed to create a business that was fully Senegalese. Today, the company has a staff of 125, with two expatriate mentors and some African expatriate staff, but the vast majority (around 98 percent) is Senegalese nationals. Beall has continually advocated for Senegal with U.S. companies and now serves on the U.S.-Africa Committee for the African Energy Chamber.

As AOP drove out to the Fortesa production site this week, Beall pointed to a plateau in the far distance, while we passed through a shallow valley. That, he said, is the edge of the 120-square-kilometer Thiombane Dome geological formation. It sits on the eastern side of the carbonate shelf edge that runs north to south along the coast of West Africa.

Volcanic eruptions in the sea 175 million years ago, joined up by sand blown in from the Sahara, created the Dakar peninsula. That same feature on the carbonate shelf edge extends deep into the Atlantic Ocean, and this is the basis for the massive offshore oil and gas fields generating so much excitement globally. This is where North America used to connect to Africa, and where we are driving now used to be the state of Georgia before it was the deep ocean bed. The African plate itself never moved.

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DGAP-News Senegal Already Produces Gas: Investors Should Look Onshore DGAP-News: African Energy Chamber / Key word(s): Miscellaneous Senegal Already Produces Gas: Investors Should Look Onshore 15.01.2021 / 12:10 The issuer is solely responsible for the content of this announcement. Senegal Already Produces Gas: …

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