Baboucarr Njie, Managing Director of the Gambia National Petroleum Company (GNPC), will speak at the Invest in African Energy (IAE) forum in Paris, taking place this May 14-15. Njie is expected to share insights into the investment opportunities across The Gambia’s oil and gas value chain, engaging with global financiers and technology providers to attract capital to its untapped energy prospects.
Tasked with unlocking maximum benefits from the country’s hydrocarbon resources, GNPC encourages oil exploration, regulates and monitors the pricing structure of petroleum products, and promotes private sector investment in the development of the sector. Through the IAE 2024 forum, GNPC will showcase the country’s attractive fiscal terms, while promoting areas of high prospectivity.
IAE 2024 is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 14-15, 2024 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.invest-africa-energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.
The Gambia’s Bambo prospect reservoirs have revealed oil shows in recent years and could hold up to 1.2 billion barrels of oil. The data – acquired by independent oil and gas company FAR – has opened additional material exploration opportunities and running room in the A2 and A5 Blocks – held by FAR with a 50% stake in each block. While a discovery is yet to be made, The Gambia basin offers significant potential for play-opening discoveries and is situated in close proximity to Senegal’s 231-million-barrel Sangomar field, where a 100,000-barrel-per-day-project is expected to come online later this year.
FAR was granted a 12-month extension to the permit term for Blocks A2 and A5 last July, enabling the company to continue exploration through September 2025. The company has also announced farm-out plans, with the new partners expected to finance a geoscience review and future exploration wells. With much of the country’s basin unexplored, GNPC is aiming to accelerate private investment in exploration and facilitate discussions with future investors at the upcoming IAE forum.
“GNPC is committed to working with global partners to unlock the full potential of The Gambia’s oil and gas resources, with IAE 2024 offering unparalleled access to the market. Strengthened domestic commerce laws such as the Gambia Investment and Export Promotion Agency Act of 2010, as well as The Gambia’s system of Petroleum Exploration, Development and Production Licenses, have made investing in the country that much easier,” states Sandra Jeque, Event and Project Director at IAE event organizer Energy Capital & Power.
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