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Policy & Regulation

Senegal to boost government role in upstream sector

The country's new upstream legislation is expected to include obligatory signature bonuses and will fix the stake of state-owned Petrosen at up to 30% The country's new upstream legislation is expected to include obligatory signature bonuses and will fix the stake of state-owned Petrosen at up to 30%.
By Felix Janvrin 21 February 2019 Middle East & Africa / Exploration & Production 0 33954
BP's planned Greater Tortue LNG development. (BP plc)

The key issue: Senegal’s lawmakers approved new legislation governing upstream operations in January ahead of a licensing round expected later this year.

Interfax analysis: Senegal’s new upstream legislation has not yet been made public, but it is expected to significantly expand the government’s role in the sector. Among other provisions, it will include obligatory signature bonuses and will fix the participation stake of state petroleum company Petrosen from 10% to as much as 30% in certain situations – up from a previous ceiling of 20%....