Saint-Louis region generates 39.6 billion FCFA from hydrocarbon activities
via SeneNews2 min read
The Saint-Louis region has generated 39.6 billion FCFA from oil and gas activities, as reported in the 2024 EITI Report presented during a regional development committee meeting. This development is linked to the progressive start of operations for the Grand Tortue Ahmeyim GTA project, marking Senegal's entry into a new phase of hydrocarbon production. The year 2024 is seen by authorities as a major turning point for the extractive sector's transformation and repositioning within the national economy. Nationally, the extractive sector contributed 455.99 billion FCFA, with Saint-Louis accounting for nearly 8.7% of total revenues, remitting over 38 billion FCFA to the state budget. Thialy Faye, president of the National Committee of the Extractive Industries Transparency Initiative CN-EITI, highlighted the country's entry into a new economic phase. Al Hassan Sall, Governor of Saint-Louis, affirmed the region's strategic role in gas dynamics but emphasized the need to align this growth with local population needs. The report also noted a persistent weakness in local content, with regional companies conducting 7.2 billion FCFA in transactions with local suppliers compared to 23.8 billion FCFA with foreign partners. Thialy Faye advocated for strengthening local content to enable Saint-Louis companies to secure more markets and create jobs. Currently, the extractive sector generates only 207 jobs in the region, which is considered low given expectations from hydrocarbon exploitatio
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This summary was AI-generated from a story originally published by SeneNews.
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