How Faye has transformed Senegal 🇸🇳 in less than a month.
Bassirou Diomaye Faye, the newly elected president of Senegal, is embarking on transformative megaprojects to uplift the country. Today, we delve into the projects that Faye plans to launch or continue, aimed at further developing Senegal.
Recognized as the beacon of hope for his people, President Bassirou Diomaye Faye has taken a decisive stance, prioritizing the betterment of his citizens above all else.
In this video, we explore the ambitious megaprojects that his administration intends to undertake.
1. The Sangomer oil field project.
Located approximately 100 kilometers south of Dakar, the Sangomer field is rich in both oil and gas reserves. Encompassing an area of 7,490 square kilometers within the Senegalese portion of the Mauritania-Senegal Kinibissal Basin, it was one of the world's largest oil fields in 2014. Development work on the Sangomer field commenced in early 2020, with the first oil production scheduled for 2024.
The initial phase, known as the Sangomer field development phase 1, will primarily focus on developing the less complex reservoir units and conducting tests on other reservoirs to facilitate gas exports to the mainland. Woodside Energy, an Australian company, serves as the project operator and collaborates closely with the Senegalese government. Their partnership aims to enhance local capabilities, provide employment opportunities, offer training initiatives, and conduct capacity-building sessions with the Senegalese administration. The Australian company holds an 82% stake in the Sangomer project, while the Senegalese government owns the remaining 18%.
The Sangomer offshore and Sangomer deep offshore joint venture, consisting of Woodside and Societé des Pétroles du Sénégal, is committed to developing the Sangomer field in line with international industry best practices and relevant government regulations. The projected production from phase one is approximately 231 million barrels of oil, with an estimated total recoverable oil resource of around 500 million barrels throughout the field's lifespan. The project's cost is estimated to range between $4.9 billion and $5.2 billion.
In August 2023, the Africa Finance Corporation and an infrastructure investor reached an agreement to collaborate with the Senegalese government, providing $54 million for the project's development.
President Bassirou Diomaye Faye's administration is demonstrating a strong commitment to boosting Senegal's economy and driving progress through these transformative megaprojects. By harnessing the country's natural resources and forging strategic partnerships, Senegal aims to achieve sustainable development and improve the lives of its citizens.
2. The Dakar Bus Rapid Transit Project.
It is an extensive urban plan aimed at providing top-notch transportation services. It involves the implementation of a mass transit system consisting of large electric buses that operate exclusively in dedicated lanes. This project, which commenced in the latter part of 2023, will cover a distance of 18.3 kilometers, traversing the Fortin Communes and catering to approximately 300,000 daily commuters. Funding for the Bus Rapid Transit (BRT) is being provided by both the World Bank and the European Investment Bank.