Senegalese Presidential Hopeful Pledges Review of Gas and Oil Contracts

(Bloomberg) -- A Senegalese opposition leader said he’ll renegotiate contracts with oil and gas companies if his bid for the presidency in this month’s election is successful.

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Bassirou Diomaye Faye, a 44-year-old former tax inspector, will review the agreements in a bid to boost government revenue, according to his coalition’s manifesto document. Offshore blocks that have not yet been awarded will be reserved for Petrosen, the state oil company.

Mining conventions will also be reviewed, party representative Daouda Ngom told reporters in Dakar, the capital.

Senegal’s readying to become a gas producer for the first time as its Greater Tortue Ahmeyim field, developed by BP Plc and Kosmos Energy Ltd., is scheduled to start output later this year. Faye, who’s been in prison since April, is expected to be released ahead of the March 24 vote, after lawmakers adopted an amnesty proposal for crimes linked to recent political protests.

His campaign has the backing of Ousmane Sonko, another imprisoned opposition leader who came third in the 2019 vote.

Polls Rescheduled

Presidential elections were originally scheduled for Feb. 25, but President Macky Sall sought a 10-month delay to allow for an inquiry into the process of selecting candidates. The move, which required a constitutional change that was approved by lawmakers, sparked violent protest and was ruled unlawful by the nation’s top court, with polls rescheduled for later this month.

Sall is due to step down in April.

Read More: Senegal Rushes to Fix Election Mess Before President Sall Exits

Faye’s coalition will also seek to implement monetary reforms to allow Senegal to have its own currency, the party said. Senegal is part of the West African monetary union that shares the CFA currency, which is pegged to the euro, and a central bank.

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