Project Profile
Value: Undisclosed
Location: north of the Gambia and south of the Petite Côte, Senegal
Area: 28,897 sq. km
Tender Oil & Gas Casamance (TOG), a Tender Group subsidiary, recently signed a production sharing contract (PSC) with Senegal’s Ministry of Energy and Petrosen - the national oil company of Senegal. The PSC was signed for two onshore blocks – Saloum and Senegal Onshore Sud, totalling 28,897 sq. km – it gives TOG license and exclusive rights for hydrocarbon exploration for the next eight years. Initial exploration investment is expected to increase during the development and production phase, resulting in drilling wells for new oil and gas production sites on Senegal soil. If commercial discoveries are made, the Republic of Senegal could benefit in profit share and in various tax revenues. As part of the agreement, TOG will intensively train industry specialists to ensure high quality work and will support national Senegalese social programs in order to contribute to the prosperity of the region. Part of the obligatory US$42 million investment made by TOG will be allocated to these actions. TOG holds a 90 percent working interest in the two areas, with Petrosen holding the remaining 10 percent. TOG’s goal is to lead 2-D seismic exploration in the area and re-process old data to discover new drilling opportunities. When commercial discoveries are made, Tender Oil & Gas will look for exclusive rights to oil and/or gas production for between another 25 and 35 years.
Operators:
Tender Oil & Gas Casamance (TOG) (a Tender Group subsidiary): Operator with 90% interest
Petrosen: 10% interest