* Senegal says BP-operated gas contract unfair, talks on

* Senegal reviewing strategic contracts

* Renegotiations affect oil, gas, fishing, infrastructure

* Senegal cancels 71 oil and gas licenses, PM vows change

(Adds Kosmos comment in paragraph 12)

By Jessica Donati and Bate Felix

March 13 (Reuters) - Senegalese Prime Minister Ousmane

Sonko on Thursday declared a BP gas contract "unfair",

revoking 71 mining licenses and freezing the accounts of a major

Indorama subsidiary until it settles approximately 380 million

euros ($438 million).

Sonko said that more sweeping reforms lay ahead, signalling

the most decisive measures yet from a government that came to

power in 2024 with a pledge to audit and potentially renegotiate

resource deals in the West African nation and restore its

financial stability.

"The contracts that have been signed are unfair contracts,

which we intend to discuss in detail," Sonko said in a televised

statement.

The government review found that a gas contract for the

Greater Tortue Ahmeyim project operated by BP was one-sided and

unfair.

Sonko said he would publish a document with the details of

the contracts studied, which also included fishing and

infrastructure, but did not provide specific details about any

discussions with BP.

BP did not respond to a Reuters email seeking comment.

REVIEW TO BOOST SENEGAL'S ECONOMY

Sonko said the renegotiations would rebuild Senegal's

finances and boost the economy by delivering cheaper gas to

industries as well as the population.

Senegal is grappling with debt that reached 132% of gross

domestic product at the end of 2024, according to the

International Monetary Fund, which froze its lending

program after a government audit discovered misreported debt.

Sonko has previously said the country will not need to

implement a restructuring plan, despite what he referred to as a

difficult and painful repayment schedule.

Senegal has announced a plan to close 19 government agencies

to save money. Tensions have risen at universities over the

government not paying students promised financial aid.

Meanwhile, teachers' unions have held nationwide strikes over

shortages, salaries and taxes.

NATIONALISING YAKAAR-TERANGA PROJECT

Sonko said talks to nationalise the Yakaar-Teranga gas

project, operated by Kosmos Energy ( KOS ), were nearly

concluded and Senegal would retake the block at no cost in the

coming weeks. Kosmos Energy ( KOS ), which has a 90% stake, became the

operator of the Yakaar-Teranga gas field in 2023 after BP

decided to exit.

Kosmos said in an email it was withdrawing from the block

and that its license expires in July 2026. "We have not been

able to attract a suitable partner and agree a commercially

attractive development concept with the government of

Senegal," Kosmos spokesman Thomas Golembeski said.

Sonko did not share updates on Australia's Woodside Energy ( WDS )

, which operates Senegal's Sangomar oil and gas

field. Senegal became an oil-producing nation when the Sangomar

field began production in June 2024.

Sonko said the government has also cancelled the licenses of

several blocks such as Diender Offshore, Differe, Cayar Offshore

Shallow, St Louis Offshore Shallow and Rufisque Offshore. He

said the government was discussing the resizing of blocks, as

the previous perimeters were too vast and did not meet

international best practices.

SENEGAL FREEZES INDORAMA'S ACCOUNTS

Senegal has frozen the accounts of Industries Chimiques du

Sénégal (ICS) until the phosphate and fertilizer company pays

the state 250 billion CFA francs (380 million euros), Sonko

said. He singled it out as a top offender in the mining sector.

Privately owned Singapore-based Indorama Corporation controls

ICS.

Indorama did not respond to an email seeking comment.

The government has also revoked 71 mining licenses, including

14 gold licenses, because the companies failed to abide by

contract terms.

More broadly, Sonko said many infrastructure projects had

overcharged Senegal by an average of 15%, costing the indebted

country hundreds of millions of euros.

"We are still a long way from having completed this work,"

he said, adding that the review would likely continue through

his term in office. "We're going to completely change the way of

doing things."

($1 = 0.8685 euros)