Petrosen

Stock performance

History

Petrosen was founded to manage Senegal's oil and gas resources and grew substantially in significance following major offshore oil and gas discoveries in the 2010s, positioning Senegal to become a meaningful oil and gas producer for the first time as production began at the Sangomar offshore oil field in 2024.

Business model

Petrosen manages the Senegalese state's interests in offshore oil and gas exploration and production, holding equity stakes in major projects including the Sangomar oil field and the Greater Tortue Ahmeyim gas field shared with Mauritania.

Market position

Petrosen holds a central position in Senegal's newly emerging oil and gas sector, working alongside international partners including Woodside Energy and BP on major offshore projects that began production in the mid-2020s.

Country impact

Petrosen is a pivotal institution in Senegal's economic future, and the offshore oil and gas production it oversees represents one of the most significant economic developments in the country's modern history, with the potential to substantially transform government revenue.