The Republic of Benin is set to re-enter the global oil market with its first cargo of 250,000 barrels of crude oil scheduled for export in October 2026. This development comes after more than two decades of halted production. According to reports from the state-owned daily La Nation, the cargo is the result of renewed exploitation of the offshore Sèmè oil field. The field is operated by Akrake Petroleum Benin, which currently produces around 3,000 barrels per day.
The Sèmè oil field, located in the bloc 1 offshore area southeast of Benin, began its renewed production phase in March 2026 with the activation of a second well. Initial drilling did not meet expectations, delaying the project's full-scale rollout. Akrake Petroleum Benin holds 76% of the project's interests, with the Beninese state owning 15% and Octogone E&P holding 9%, based on data from the project. The current production level of 3,000 barrels per day falls short of initial projections, which ranged between 5,000 and 6,000 barrels daily.
The resumption of oil production in Benin marks a significant milestone, especially considering the field's history. Between 1982 and 1998, the Sèmè field produced approximately 22 million barrels before operations ceased. An independent report from March 2025 estimated the field's proven and probable reserves at 10.9 million barrels. This current phase is not a new discovery but rather the revival of an already exploited field.
The bloc 1 area, covering about 551 km², is located in waters 20 to 30 meters deep. The upcoming cargo of 250,000 barrels, slated for export in October, represents several weeks of production at the current rate. As of the latest reports, no buyer has been identified for this initial shipment. The export will take place via the Sèmè-Podji terminal, which has recent experience handling oil exports, including Nigerien crude.
Benin's return to the international crude oil market is significant, especially following the export of Nigerien oil through the same terminal in 2025. The Sèmè-Podji terminal has demonstrated its capability in handling export operations. The October shipment will mark a new chapter for Benin's oil sector, with crude produced from a field located within its maritime territory.
The commercialization of the cargo in October is highly anticipated and will signal a new era for Benin's petroleum industry. The production and export of crude oil are expected to boost the country's economy and reestablish its presence in the global oil market. Further details on the export and future production plans are awaited as the country seeks to maximize its oil resources.
The revival of the Sèmè oil field and the export of its crude underscore the ongoing efforts to revitalize Benin's oil sector. With Akrake Petroleum Benin's continued operations and the government's involvement, there is optimism about the sector's future. The development will be closely watched by industry stakeholders and the international community as Benin seeks to capitalize on its oil reserves and strengthen its economic position.
Key points
- The first cargo of 250,000 barrels of Beninese crude oil is set for export in October 2026.
- The Sèmè oil field, operated by Akrake Petroleum Benin, currently produces around 3,000 barrels per day.
- The field's proven and probable reserves are estimated at 10.9 million barrels, according to a March 2025 report.
