Senegal has made 104 oil and gas blocks available to investors and is seeking new upstream contracts to boost exploration and production, as well as partners for its remaining acreage, the Yakaar-Teranga gas project and downstream developments.  

According to a statement on Thursday, Senegal’s minister of energy and petroleum, El Hadji Diouf, disclosed this at the African Energy Week 2026 in Cape Town, South Africa.

Of the 113 blocks in Senegal’s reorganised acreage, four are under contract and five have been allocated to Eni for studies, leaving substantial opportunities for international and regional operators.

Mr Diouf said, “We hope to sign a number of contracts…”, adding that they want to “show investors that Senegal remains the country it has always been: open, hospitable and respectful of international procedures”.

In March 2026, Senegal which reorganized its upstream acreage into 113 blocks (comprising 65 onshore and 48 offshore blocks), also signed an agreement with Eni to assess the oil and gas potential of five offshore blocks.

“Beyond the exploration acreage, Senegal is seeking partners to develop the Yakaar-Teranga gas project alongside national oil company Petrosen. Petrosen took full control of the project after Kosmos Energy withdrew in April 2026,” it said.

The minister said Yakaar-Teranga will supply gas for power generation, industrial applications including fertilizer production, and exports, hence, advancing the project will require a coherent development structure, credible buyers and a clear investment program.

“Our strategy is to build the value chain from the well to the factory, with gas at the heart of our industrial ambition,” he said.

For the downstream, the minister pointed to a planned second refinery that will process Sangomar crude, with investment estimated at $2 billion to $3 billion.

The Société Africaine de Raffinage and Turkey’s Yamata signed a Memorandum of Understanding for the four-million-ton-per-year refinery in New York on September 23, 2026.

Mr Diouf said the project opens further opportunities in storage, logistics, distribution and petrochemicals, as he invited investors to examine Senegal’s data, work with its technical teams and bring proposals backed by the capacity to invest and execute.

He also urged partners to involve Senegalese companies and skills from the outset, with support from the national local content monitoring committee.

“Capital must earn a return. Senegal must gain a stronger economy. The partnership we seek must serve both purposes,” he insisted.

Mr Diouf said Senegal is hoping to expand the MSGBC alliance beyond its five host countries of Senegal, Mauritania, The Gambia, Guinea-Bissau and Guinea, but he did not specify the other countries being considered.