Diomaye Faye: IGE Yakaar-Teranga Investigation Targets $55M Dispute

• President Bassirou Diomaye Faye has ordered the State Inspectorate General (IGE) to investigate the Yakaar-Teranga gas project.
• The inquiry stems from a $55 million dispute with Kosmos Energy related to its withdrawal from the offshore gas block.
• Prime Minister Ahmadou Al Aminou Lô described the payment as a "serious breach" by an unauthorized entity acting for the State.
• Former Petrosen Director General Alioune Guèye denies the accusations, stating no one owes the State the disputed amount.
• Kosmos Energy held a 90% stake in the Yakaar-Teranga project, with Petrosen holding 10%, before its permit expired in July 2026.

This Diomaye Faye IGE Yakaar-Teranga investigation is not merely about a single financial dispute; it represents a critical test of the new administration's commitment to rooting out potential corruption and ensuring that national resources are managed in the public interest.

President Bassirou Diomaye Faye has initiated a significant inquiry into the Yakaar-Teranga gas project, directing the State Inspectorate General (IGE) to investigate the matter. This directive, which activates the IGE, follows the public disclosure of a contentious $55 million financial dispute involving Kosmos Energy. The core of this issue revolves around the American oil company's exit from the offshore gas block, prompting concerns about the circumstances surrounding the transaction.

Reports from local media outlets, including L’Observateur on September 10 and Rewmi, confirmed that the IGE's mission was launched under the explicit instruction of the Head of State. The newly appointed Minister of Energy and Petroleum, Abdourahmane Diouf, who took over from Souleye Birame Diop, has been officially notified of the commencement of this investigative process through formal correspondence. This Diomaye Faye IGE Yakaar-Teranga investigation signals a strong commitment to scrutinizing past dealings in the nation's vital energy sector.

The central point of contention in the Senegal Kosmos Energy 55 million dispute is the sum of $55 million, equivalent to approximately 30 billion FCFA, which is linked to Kosmos Energy's departure from the Yakaar-Teranga gas block. This financial arrangement has drawn sharp criticism from high-ranking government officials. Prime Minister Ahmadou Al Aminou Lô publicly addressed the issue during his General Policy Statement before the National Assembly on September 8, 2026.

During his address, Prime Minister Lô asserted that an unauthorized entity had acted on behalf of the State to sanction this payment to Kosmos, labeling such an action a “serious breach.” The IGE's mandate is specifically to delve into the specifics of this operation to ascertain the precise circumstances under which this substantial sum was agreed upon and disbursed. This aspect of the Sénégal IGE enquête Yakaar-Teranga is crucial for understanding potential irregularities.

The Yakaar-Teranga gas block, a significant offshore natural gas reserve, is situated in the Cayar basin off the coast of Senegal. This project has been a key component of the nation's energy development strategy. Prior to the announced expiration of its permit in July 2026, Kosmos Energy held a substantial 90% participating interest in the project as of December 2025. The remaining 10% stake was held by Petrosen, the national oil company.

The involvement of Petrosen Yakaar-Teranga gas block is particularly relevant given the allegations. Alioune Guèye, who previously served as the Director General of Petrosen, has publicly refuted the accusations surrounding the $55 million payment. In a statement shared on social media, Guèye maintained that “no one owes the State $55 million” and expressed his readiness to cooperate fully with any institution tasked with examining the details of the case.

The Bassirou Diomaye Faye instruction IGE to investigate the Yakaar-Teranga affair underscores a broader governmental push for transparency and accountability in state contracts, particularly within the lucrative energy sector. The Prime Minister's strong condemnation of an alleged “serious breach” suggests that the findings of this inquiry could have far-reaching implications for how future agreements are structured and overseen.

This Diomaye Faye IGE Yakaar-Teranga investigation is not merely about a single financial dispute; it represents a critical test of the new administration's commitment to rooting out potential corruption and ensuring that national resources are managed in the public interest. The outcome could establish new precedents for corporate responsibility and government oversight in Senegal's burgeoning oil and gas industry, potentially influencing investor confidence and the terms of future international partnerships.

Lawyers advising energy companies operating in Senegal should closely monitor the findings of this IGE investigation, as it could set new precedents for accountability in state contracts and financial disputes, potentially impacting future transactions or requiring a review of past dealings with state entities like Petrosen. Compliance officers should assess their exposure to similar historical arrangements.

Source: Original reporting via L’Observateur and Rewmi.