The Sèmè oil field, located off the southeastern coast of Benin, is poised to resume production nearly 30 years after its shutdown in 1998. Discovered in 1969 by Union Oil and developed by Norwegian company Saga Petroleum, the field produced approximately 22 million barrels between 1982 and 1998. The halt in production was largely due to low oil prices, which hovered around $14 per barrel at the time.
The current redvelopment of the field is based on the remaining recoverable volumes and the use of modern drilling techniques. Akrake Petroleum took over the development of the field after being awarded Block 1 in December 2023. The company has adopted a new approach that utilizes two horizontal wells, a mobile offshore production unit, and a floating storage and offloading unit. This model aims to minimize heavy infrastructure while improving oil recovery.
According to an independent report published by Rex International in March 2025, the 2P reserves of the Sèmè field are estimated to be 10.9 million barrels. The development plan targets an initial production plateau of around 15,000 barrels per day. The first cargo, consisting of approximately 250,000 barrels, is scheduled for October 2026. This initial sale marks the beginning of a larger effort to revive the field.
The resumption of production at Sèmè holds significant economic implications for Benin. The state owns 15% of the project and is entitled to a 10% royalty and a share of the profit oil, as per the production sharing contract. The successful revival of the field could provide a substantial boost to the country's economy and energy sector.
The Sèmè oil field's revival is also notable for its adoption of modern and more efficient production techniques. The use of horizontal wells and floating production units reduces the need for extensive infrastructure, making the operation more cost-effective and environmentally friendly. This approach could serve as a model for future oil and gas projects in the region.
As Benin prepares to re-enter the international oil market with the Sèmè field, the focus shifts to ensuring sustainable and economically viable production. The coming months will be crucial in determining the long-term success of this project and its impact on the country's energy landscape.
The successful restart of the Sèmè oil field could have far-reaching implications for Benin's economy and energy sector, providing a much-needed boost to the country's oil production and revenue.
Key points
- The Sèmè oil field is expected to produce 15,000 barrels per day.
- The field's 2P reserves are estimated to be 10.9 million barrels.
- The first cargo of 250,000 barrels is scheduled for October 2026.
