We are yet to confirm if we have oil—energy ministry

/, Press Release/We are yet to confirm if we have oil—energy ministry

In a press release on Tuesday, the Ministry of Energy and Petroleum has said Gambia is yet to confirm that it has oil, adding that two oil companies have been licensed to drill the country’s test wells.

The ministry said they are working with FAR and Petronas to drill the first offshore exploration well in the Gambia since the past forty years. This will be done under the A2 and A5 licenses issued to Camac in 2012.

Below is the press release:

UPDATE ON THE PETROLEUM LICENSING PROCESS AND RELATED MATTERS

The government of The Gambia through the ministry of petroleum and energy assisted by a multi-intuitional committee and African and African legal support facility of the African Development Bank is continuing with the licensing of the oil blocks under a fair, transparent and comprehensive licensing process.

Following the completion of the initial request for information (RFI) phase in march 2018, which the public informed about through the media, a number of companies were identified as qualified and capable of carrying out oil exploration (search for oil) in The Gambia. Since then, the government through the ministry have been diligently working on finalizing the petroleum exploration and production license agreement (PEPLA), other related documents including a template for the evaluation and assessment of qualified companies, as well as, secure web-based system for data and information sharing.

The ministry plans to launch its request for proposals (RFP) in October 2018 to invite the shortlisted companies to submit proposals as required by the RFP.

In a related development, the ministry is working with FAR and Petronas to drill the first offshore exploration well in the Gambia since the past forty years. This will be done under the A2 and A5 licenses issued to Camac in 2012.

It is worthy to mention that we are yet to know if we have oil or not. We are searching for it and will not know until this test well is drilled during the last quarter of 2018. Therefore, this exploration well will be a key factor in establishing whether we have oil or not.

The public is hereby assured that under the leadership of His Excellency President Adama Barrow, the Ministry of Petroleum and Energy and with the support of key government institutions such as the Ministry of Justice , Ministry of Finance and Economic Affairs, Gambia  National Petroleum Corporation, GIEPA, Gambia Revenue Authority, the best interest of the Gambia and its people will be always reserved as we step up activities in the petroleum sector.

Furthermore, in furtherance of the ministry’s commitment to openness and transparency the public will be informed of any meaningful milestones as we progress with developments. Meanwhile, you are encouraged to visit our website on www.mope.gov.gm for necessary information and updates.

 

2018-09-25T21:25:43+00:00

Leave A Comment