Up to 11 successful wells have been drilled in The Gambia since 2014, spurring industry interest in the country’s offshore opportunities. The countries enjoys significant prospectivity due to its close proximity to the 230-million-barrel Sangomar discovery made in neighboring Senegal. With over 10,000 km2 of offshore acreage and preliminary resource estimates of three billion barrels, The Gambia‘s potential is evident. Three companies are currently exploring offshore.
FAR – Blocks A2 and A5
Independent energy player FAR secured both a working interest and operatorship in two promising offshore blocks – A2 and A5 – in 2017. In July 2023, the government of The Gambia extended FAR’s permit for the blocks until September 30, 2025, with reduced annual fixed costs. FAR is now seeking farm-in partners to fund geoscience reviews and exploration wells.
Situated off the coast of The Gambia, Blocks A2 and A5 lie in close proximity to the 230-million-barrel Sangomar Oil Field in Senegal, highlighting the blocks potential for a major discovery.
PetroNor – Block A4
Junior exploration company PetroNor E&P reinstated its Block A4 license in The Gambia in 2020. The license allows PetroNor to continue exploration with amended terms, including an extended initial exploration period of three years. Petronor owns 90% of the block, with the government holding the remaining 10% ownership stake. As of 2024, PetroNor is continuing its efforts to advance exploration activities in the region.
NNPC
Global energy company the Nigerian National Petroleum Corporation (NNPC) and state-owned Gambian National Petroleum Corporation signed an MoU to explore and develop crude oil in The Gambia in 2023. The agreement entails geological studies, seismic data analysis, and potential drilling activities. NNPC’s Group Managing Director Mele Kyari emphasized the MoU’s role in strengthening bilateral relations and maximizing oil production locally and regionally.
Join Energy Capital & Power for the fourth edition of MSGBC Oil, Gas & Power 2024 conference and exhibition in Dakar on December 3-4. Explore investment and partnership opportunities in energy exploration, with a focus on The Gambia. Register now to secure your spot!
