Petrosen Targets Yakaar-Teranga FID by 2027, Seeks Partners
Senegal’s national oil company, Petrosen, is targeting a final investment decision (FID) on the Yakaar-Teranga gas project by the end of 2027 as it seeks partners to advance development of the offshore field.
The project is central to Senegal’s plans to expand domestic gas supply, reduce electricity costs and use its gas resources to drive industrial development.
Speaking at African Energy Week 2026 in Cape Town, Mouhamadou Diop, CEO, Petrosen Trading & Services, said the project presented a major opportunity to strengthen Senegal’s energy security and support wider economic development.
“Yakaar-Teranga has the potential to be truly transformative for Senegal. The main question surrounding the project is economic competitiveness and sovereignty,” Diop said.
Located in the Cayar Offshore Profond block north of Dakar, Yakaar-Teranga is estimated to hold about 25 trillion cubic feet (Tcf) of gas.
Its development concept prioritises domestic gas supply, with production expected to support power generation and downstream industries, including fertiliser and petrochemicals.
The first phase is estimated to require about $2.5 billion in capital investment and targets production of between 150 million and 300 million cubic feet per day (MMcf/d).
A subsequent $5 billion phase would support broader industrial development, including fertiliser production, positioning natural gas as both a feedstock for domestic manufacturing and a source of more reliable electricity.
“Deep offshore projects are complex and require a lot of capital. Therefore, the government of Senegal has made it a national priority to make the country more attractive to investment in order for us to fully maximise the true potential of our offshore resources,” Diop said.
As Petrosen seeks partners, project economics, commercial structures and development planning are expected to be critical to achieving the 2027 FID target.
Dominique Gadelle, Vice President, Front-End, Markets and Solutions, Technip Energies, stressed the need to establish commercial and contractual arrangements early in the development process.
“We need commercial and contractual arrangements before reaching FID,” Gadelle said. “We are seeing positive signs and are very optimistic about the future of the MSGBC basin.”
Technology could also play a role in improving project economics as Senegal develops its offshore resources.
Olivia Djibo, SLB Country Manager for Ivory Coast, Senegal and Mauritania, said new developments in the basin offered an opportunity to deploy advanced technologies from the outset.
“Technology has evolved, and what I think is great news for MSGBC is as they develop, they will be able to integrate these technologies from the get-go. This will make their projects even more valuable and successful,” Djibo said.
Yakaar-Teranga is part of a broader wave of offshore development across the MSGBC basin, alongside the Greater Tortue Ahmeyim gas project and Senegal’s producing Sangomar oil field.
The developments are strengthening the region’s position as an emerging oil and gas investment hub, with Senegal seeking to leverage its offshore resources to expand domestic energy supply and accelerate industrialisation.
