SENEGAL

VIEW OF DAKAR FROM A PLANE (1)

DAKAR AIRPORT

ROAD TO DOWNTOWN

DAKAR (1)

DAKAR (2)

TOURISM (1)

TOURISM (2)

RALLY OF PARIS-DAKAR

CULTURAL MONUMENTS                                      

ART IN GENERAL

AN OPPORTUNITY TO INVEST IN OIL & GAS EXPLORATION & PRODUCTION IN SENEGAL

SUMMARY General Presentation of Senegal Energy Market High Light of the Oil & Gas Potential

COUNTRY Surface: 196 722 km²

PEOPLE Population: 9 500 000 ; 5 major ethnic groups Confessions: Muslims 92%, Catholics 6%, Animists 2% Growth Rate: 2.8% / year Population under 15 years = 43.6% Population in urban centers = 45.1% Life Expectancy : 51.3 years Literacy Rate 38% ; male 52% ; female 25%

GOVERNMENT Since the independence of Senegal from France in 1960, the main objectives of the Senegalese Government is to establish an environment suitable to the development of the country. Democratic Republic with three independent powers: Government: President of the Republic, Prime minister and Council of Ministers Legal Department: Bicameral Parliament: 140 representatives Political parties : more than 50 parties with 2 dominants Elections: Presidential each 5 years Parliament each 5 years

ECONOMY FOR YEAR 2002 (source Ministry of Finances) GNP: 3 551.8 Bn FCFA ($5.07 Bn) Total Exportation : 765.2 Bn FCFA ($1.09 Bn) Total Importation : 1 085.2 Bn FCFA ($1.55 Bn) GNP per Capita: $507 Gross Rate: 5.6% (2001), 2.4% (2002) Main Economical sectors: Agriculture: 16% of GNP, peanuts and cotton Industry: 22% of GNP, Phosphate mining and fertilizers, Cement, Oil mills, fishing products, etc. Tertiary: 53% of GNP widely dominated by tourism Others: 9%

After 43 years of independence, Senegal has today CONCLUSIONS: After 43 years of independence, Senegal has today political stability, good governance practice and independent jurisdiction, Which allow a stable social and economic development. The Energy sector is a key element of this development.

ENERGY MARKET Total Imported Energy and Lubricant: Exportation: 2.8 MM tones Exportation: Mali Gambia Guinea Bissau Consumption: 67% for Transportation - Retailing Companies: TotalFinaElf (55%), Shell (27%), Mobil (13%) Privates Senegalese(5%) 33% Power Generation: SENELEC main power company

ENERGY MARKET (2) Total Liberalization of the Energy Sector: Power Generation: Open to IPP Refining: Open. Building a refinery of 100-150,000 b/d is one of the NEPAD project. Transportation, Distribution and Retailing: Open. Private Senegalese companies.

ENERGY CONCLUSIONS Main Goal of the Government is to create an Energy environment that can sustain the economical and social development of the country: well regulated market competitive environment attractive conditions for the investment and Utilization of local energy sources

HYDROCARBON POTENTIAL OF THE SENEGAL BASIN

HISTORY OF THE EXPLORATION 1917: 1952 Oil shows in the Cap Vert Area 1952: 1954 Drilling of 4 wells around Dakar 1961: Discovery of the onshore Diam Niadio Field 1967: Discovery of the offshore Dome Flore Field 1977: Production of gas from Diam Niadio 1981: Creation of PETROSEN 1986: Evaluation of the Basin 1986 to Now: 4 gas discoveries (0.5 to 10 Bcf) in Diam Niadio-Thies Area.

REGIONAL SETTING Two main basins are identified in Senegal: Meso-Cenozoic Basin, an passive margin basin, east of the Atlantic Ocean and Paleozoic Basin, underneath the meso-cenozoic basin

DEEP OFFSHORE SEISMIC

ONSHORE SEISMIC

WELL DISTRIBUTION

DRILLING INDIAM NIADIO & D. FLORE

THE MESO-CENOZOIC BASIN THREE SUB-BASINS: Nouakchot-Dakar sub-basin, with a trend of listric faults Rufisque-Banjul Sub-basin, stable Casamance-Bissau Sub-basin, with salt tectonics. These sub-basins are separated by majors transfer faults.

TECTONIC OF NOUAKCHOT-DAKAR Main Characteristics of the Sub-basin is a trend of listric faults from the north of Nouakchot to the south of the Cap Vert Peninsula.

NOUAKCHOT-DAKAR CROSS SECTION East-West Cross Section through the Cayar Sea Mount: Structural traps within the Cayar fault zone; Turbidites / mass flow deposits beyong the carbonate bank

DIAM NIADIO: LEADS & PROSPECTS GADIAGA FIELD Diam Niadio and Gadiaga Fields are within the trend of the listric faults. DIAM NIADIO FIELD

RUFISQUE-BANJUL SUB-BASIN Oil shows at RF-3 ( 33°API ) in Senonian sands Oil and Gas shows at RF-2 and DKM-2 in Aptian/Neocomian

CASAMANCE-BISSAU SUB-BASIN

PALEOZOIC BASIN (2)

PALEOZOIC BASIN (1) The map shows a gentle dipping toward the west. The Paleozoic formations are in a drillable depth (4000 – 1500m) in a north – south belt of 100 km wide from Guinea to Mauritania.

HYDROCARBON OCCURENCES Since 1968, three discoveries have been made in Senegal Domes Flore & Gea 1billion of Heavy Oil in the Oligocen limestone Diam Niadio Field Many gas accumulations (0.5 to 10 BCF) in the Maastrichtian Sands Gadiaga Field Gas accumulations in the Campanian and Senonian Sands

DIAM NIADIO: PRODUCTION STATISTICS Total Gas Production 7.6 BCF 1987-1997 Total Oil & Condensats Production 62 642 b of light oil 34°API 35 692 bbls de condensats

DOME FLORE AREA Heavy oil in the Oligocene limestones10 - 13° API Light oil in the Maestrichtian sands 13b/hour of 33° API Light oil in the Albian sandstones

CONCLUSION ON THE POTENTIAL The Meso-Cenozoic basin presents good source rocks, reservoirs and seals through all the stratigraphic section. Petroleum Systems do exist in the Senegal, in the Meso-Cenozoic Basin The Paleozoic basin also has good source rocks (Silurian graptolite shales), good sand reservoirs (Ordovician and Devonian) and seals (interbedded shales). Beside the discoveries of Diam Niadio, Gadiaga and Dome Flore, the Senegalese Basin is still underexplored. More seismic Data and more drilling are needed to assess the real potential of the Paleozoic and the Meso-Cenozoic basins. .

PETROLEUM DATA BANK

BLOCKS AND LICENSES