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Gambian ministry opens mini license round for block A1

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Gambian ministry opens mini license round for block A1

The government would like to take this opportunity to thank BP for their interest and strong collaboration during the last two years they have worked in The Gambia.

DUBAI, United Arab Emirates, October 27, 2021 / APO Group / –

The Gambia’s Ministry of Petroleum and Energy has announced that it will open a mini license round for Block A1 at Africa Oil Week (www.Africa-OilWeek.com) on November 8, 2021. That’s done. following the success of the round license for drilling sites in 2018.

Originally granted to BP in 2019, Block A1 became available in August this year after the company left the site. This is part of BP’s corporate strategy to shift from resource production to energy integration.

In a statement released by BP, the company said the license return had “nothing to do with the geology and the prospect or support of the Gambian government.” The company added that it “has been impressed by the level of commitment, organization and collaboration of the Gambian government”.

BP performed the required work obligations, including the acquisition and reprocessing of 2D and 3D data, the performance of environmental impact, geohazard, geology and geophysics studies that enabled prospects to become ready for drilling.

“The government would like to take this opportunity to thank BP for their interest and strong collaboration over the past two years they have worked in The Gambia and wished them good luck in their new strategic direction, hoping to work with them. them in the future in some by other means, “said Hon. Fafa Sanyang, Minister of Petroleum and Energy of The Gambia.

The ministry works with legal, technical and financial advisers to help them design the commercial and fiscal framework of the licensing cycle that takes into account the current market environment and creates value for the people of The Gambia.

“We are fully aware of the impact of the energy transition on pioneer oil and gas markets such as The Gambia. At the end of the well-prepared and expedited licensing process, we seek to enter into a fruitful partnership that works for both the government and the international partner to extract the oil wealth of our country under conditions reflecting the evolution of reality, ”said Hon. Sanyang.

The 2021 licensing cycle will be based on the same principles of transparency and legitimacy established in the 2018 licensing cycle. But, to accelerate the exploration started by BP, the ministry has expressed interest in closing the licensing cycle as soon as possible. Details of the structure and timelines will be provided during Africa Oil Week and related publications.

“Following our previous success in implementing the 2018 license cycle, we believe that launching a mini license cycle for A1 will ensure the greatest transparency, legitimacy and competition. The multidisciplinary government team that was involved in the first licensing cycle will also be involved in this licensing cycle and has developed tremendous capabilities over the past few years working closely with BP and our legal advisors, technical and financial, ”said the Honorable Jerreh Barrow, Petroleum Commissioner of The Gambia.

“Our main objective in designing the licensing cycle is to ensure an attractive tax regime with low entry requirements for bidders, a transparent procurement process and rules of participation, and criteria for clear minimum technical and financial qualifications. Our government team has the necessary experience and is well prepared. repeat the success of the 2018 licensing cycle, and once again start and complete the licensing cycle within the announced timeframe (December 2021 to May / June 2022), ”said the permanent secretary of the ministry of Oil and Energy, Lamin Camara, The Gambia.

The chief executive of National Petroleum is confident that the National Oil Company (NOC) is in a good position to partner with any potential licensee.

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