SAR’s CEO said Senegal will launch construction of a second oil refinery next year to expand domestic processing capacity while pursuing $2–5 billion in investment.
Potential investors from China, Turkey, and South Korea have already submitted financing offers.
Abib Diop explained that the new plant will source most of its feedstock from the offshore Sangomar field, operated by Woodside Energy, with Petrosen holding a minority stake.
The Sangomar field began production last year, yielding 34.5 million barrels annually, equal to about 4.6 million tons.
SAR, West Africa’s oldest refinery, processes 1.5 million tons of crude annually—or about 30,000 barrels per day—but still struggles with a domestic supply gap.
Abib Diop stated that the “SAR 2.0” project will close this gap by adding a second refinery site with 4 million tons of extra capacity per year.
He added that by the planned 2029 start-up, SAR aims to reach self-sufficiency in petroleum supply and possibly export to regional markets.
Abib Diop told Reuters that SAR has not yet finalized the refinery’s location or the government’s potential equity participation.
He noted that growing numbers of financiers continue to express interest in funding the project.
source; www.reuters.com
African Energy Council