Senegal Refutes Rumors on Sangomar Oil Revenue

The Senegalese Ministry of Energy and Petroleum issued a clarification after social‑media posts claimed the state receives only a negligible share of the proceeds from the Sangomar offshore oil field. The ministry called the claim “manifestly erroneous” and explained that the figures were conflating gross sales revenue, cost‑recovery volumes and the contractual profit‑oil split under the Production Sharing Agreement (CRPP).

According to the ministry, the field produced 8.96 million barrels in the first quarter of 2026, valued at about US$759 million. Of this, the state directly received 437,839 barrels, equivalent to roughly US$37 million. This amount does not include the 18 % economic share of the state‑owned company Petrosen, nor taxes, duties and other fiscal revenues. The ministry stressed that a portion of production first covers the recovery of exploration, development and operating costs before the remaining profit oil is divided between the state and partners as stipulated in the contract.

The statements also noted that the operator Woodside’s reported figures reflect accelerated cost recovery and should not be taken as the final profit distribution.