in Short

Senegal : AFC grants 50 million euros to the oil and gas sector

Africa Finance Corporation (AFC) is to invest 50 million euros in the Sangomar oil field to boost the country’s emerging oil and gas sector and improve energy access and security in Senegal.

Located 100 kilometers southwest of the capital, Dakar, the Sangomar oil field covers 7,490 square kilometers, with an estimated capacity of around 500 million barrels of crude oil.

AFC’s investment in the Sangomar oil field will be used to support the first phase of launching oil production.

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