Production starts at Senegal's first offshore oil field

DAKAR, Senegal — Senegal joined the club of oil-producing countries on Tuesday as Australian group Woodside Energy announced that production had started in the West African country's first offshore project.While Senegal's fossil fuel output is not expected to be as high as that of bigger producers such as Nigeria, there are hopes the oil and gas industry will bring billions of dollars in revenue to the country and contribute to transforming its economy.

While meeting students in Dakar on Tuesday, Faye vowed that profits from developing the country's gas and oil resources would be 'well managed.''The State of Senegal has set up an inter-generational fund. For your generation and those to come, we have reserved shares ,' Faye told the students after the announcement of the first barrel from Sangomar.

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