Senegalese opposition leader pledges review of oil and gas contracts upon election
(Bloomberg) – A Senegalese opposition leader said he’ll renegotiate contracts with oil and gas companies if his bid for the presidency in this month’s election is successful.
Bassirou Diomaye Faye, a 44-year-old former tax inspector, will review the agreements in a bid to boost government revenue, according to his coalition’s manifesto document. Offshore blocks that have not yet been awarded will be reserved for Petrosen, the state oil company.
Mining conventions will also be reviewed, party representative Daouda Ngom told reporters in Dakar, the capital.
Senegal’s readying to become a natural gas producer for the first time as its Greater Tortue Ahmeyim field, developed by bp Plc and Kosmos Energy Ltd., is scheduled to start production later this year. Faye, who’s been in prison since April, is expected to be released ahead of the March 24 vote, after lawmakers adopted an amnesty proposal for crimes linked to recent political protests.
His campaign has the backing of Ousmane Sonko, another imprisoned opposition leader who came third in the 2019 vote.
Faye’s coalition will also seek to implement monetary reforms to allow Senegal to have its own currency, the party said. Senegal is part of the West African monetary union that shares the CFA currency, which is pegged to the euro, and a central bank.
Lead image: Greater Tortue Ahmeyim field (Source: McDermott)
