Having become an oil producer with the exploitation of the Sangomar offshore oil field, Senegal is still struggling to transform this achievement into a genuine economic driver. "Today, we're at roughly 100,000 barrels, but these barrels of oil don't belong to us. We're a partner who shares the production," emphasizes energy economist Ibnou Sougoufara, referring to the partnership with Woodside Energy.

 

Under these conditions, the country remains structurally dependent on petroleum product imports. "If we calculate the net loss, there will always be a huge shortfall. Senegal doesn't gain on the net," explains the guest on Seneweb Eco this Sunday, April 19, 2026.

 

This fragility is all the more pronounced given that the global energy market is subject to strong geopolitical tensions. "Oil is a huge geostrategic issue," notes the risk management and geostrategy expert, citing the rivalries between the United States, China, and Russia.

 

Major supply routes, such as the Strait of Hormuz and the Strait of Malacca, alone concentrate a significant portion of the global hydrocarbon trade, reinforcing the dependence of producing countries on international balances. "The world is undergoing a major transformation," he warns.

 

In this context, Senegal's room for maneuver largely depends on its ability to attract and retain foreign investment. However, according to the expert, a climate of trust remains crucial. "Oil companies don't like that," he says, referring to what he considers hostile rhetoric surrounding taxation or contract renegotiations. "When you paint a bleak picture of the future, the oil company can see through your intentions."

 

For him, the challenge is "to integrate into global energy circuits, and try to market oneself."

 

Beyond immediate gains, Ibnou Sougoufara calls for prioritizing a long-term vision. "We need to defer the reward, aim to reach 200,000, 300,000 barrels," he explains, advocating for a gradual increase in production.