DAKAR, Senegal — Senegal is intensifying efforts to give domestic businesses a bigger role in the country’s rapidly developing oil and gas economy.
The Ministry of Energy and Petroleum has called for greater local investment in petroleum and gas operations, highlighting opportunities for Senegalese companies following the start of production at the Sangomar oil field and the development of the Grand Tortue Ahmeyim (GTA) gas project.
Authorities want the growing hydrocarbons industry to generate more local jobs, industrial development and business opportunities rather than relying heavily on foreign suppliers.
The government is targeting 50% local content in the value of goods and services used by the hydrocarbons sector by 2030. Key challenges identified include access to financing, guarantees, certification, business information and professional qualifications.
Senegal is now seeking to turn its oil and gas expansion into a wider opportunity for domestic businesses, potentially creating new markets for suppliers, contractors and service companies.
The policy could become an important driver of private-sector growth as Senegal works to transform its natural-resource wealth into broader economic development.
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