Centered on the development of a second refinery, SAR 2.0 is designed to add 4 million tons of annual capacity and elevate national throughput to over 5.5 million tons per year. The project – estimated at $2-5 billion – is slated for construction start around 2026, with commissioning targeted for 2029. The new facility will process crude oil from the Sangomar offshore development, produce fuels meeting AFRI 6 standards and expand into petrochemicals to support regional industrialization. Financing discussions are currently underway with partners in China, Turkey, South Korea and the African Export-Import Bank, with a public-private partnership model under consideration.

Explore opportunities, foster partnerships and stay at the forefront of the MSGBC region’s oil, gas and power sector. Visit www.msgbcoilgasandpower.com to secure your participation at the MSGBC Oil, Gas & Power 2025 conference. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

SAR enters the 2025 edition of MSGBC Oil, Gas & Power following a historic operational milestone: in February 2025, the refinery successfully processed 650,000 barrels of crude oil from the offshore Sangomar field – its first-ever treatment of domestic crude. The batch yielded roughly 90,000 tons of diesel, kerosene and gasoline, marking a major step in integrating locally produced feedstock and strengthening Senegal’s energy independence.

SAR’s recent progress builds on earlier upgrades, including the 2021 expansion of the existing Mbao facility from 1.2 to 1.5 million tons per year, and deepened strategic partnerships such as the 2024 agreement with China’s Sedin Engineering to evaluate engineering procurement and construction options for the second refinery and petrochemical complex. Meanwhile, Senegal’s national oil company Petrosen’s majority acquisition of a 93.5% stake in SAR in 2022 strengthened state backing and investor confidence in the development as Senegal’s premier downstream enterprise.

“Mamadou Abib Diop’s participation at this year’s event underscores SAR’s pivotal role in Senegal’s energy transition and regional refining strategy. His insights are expected to provide investors and stakeholders with a unique perspective on domestic crude integration and the SAR 2.0 expansion,” states Sandra Jeque, Events and Project Director, Energy Capital & Power.