Senegal’s newly inaugurated President, Bassirou Diomaye Faye, announced plans for an audit of the country’s oil, gas, and mining sectors in a televised address on Wednesday.
This move, among his first policy initiatives, aims to ensure transparency and accountability in the management of natural resources, which are constitutionally owned by the people.
While details of the audit were not provided, President Faye emphasized the government’s commitment to protecting investor rights while safeguarding the interests of the state and its citizens.
Senegal’s upcoming offshore oil development, led by Woodside Energy, is slated to commence production in mid-2024, with an expected output of approximately 100,000 barrels per day.
