Senegalese Prime Minister Ousmane Sonko has officially established a commission tasked with reviewing the country's oil and gas contracts with multinational corporations.
The announcement, made on national television, highlights the government's intention to scrutinize the agreements as Senegal navigates its newfound role as an oil producer.
The commission, comprised of legal, tax, and energy experts, is set to conduct a thorough examination of the contracts to ensure they align with Senegal’s national interests.
Sonko emphasized that this review is not a precursor to nationalization but rather an effort to rebalance the agreements in favor of the country.
The move follows the production of Senegal's first oil, announced by Australia's Woodside Energy in June from the Sangomar oil and gas field.
Additionally, gas production from the Greater Tortue Ahmeyim (GTA) project is expected to begin later this year.
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