Gambia National Petroleum Corporation and the British Petroleum (BP) on Tuesday
signed the Deed of Agreement for Gambia government’s participatory interest in
the A1 licensed block. They also signed the Joint Operation Agreement between
National Petroleum Corporation and British Petroleum Exploration Gambia Ltd.
The signing ceremony which was held at the GNPC headquarters, aimed at ensuring maximum benefit from the country’s hydrocarbon resources through an acceptable efficient, safe and environmentally friendly manner that will enhance and contribute to the growth of Gambia’s national wealth.
Oil exploration has been ongoing in The Gambia since the 1960s. In 2016, discovery of oil on the SNE acreage in offshore Senegal due to its proximity to Gambia offshore blocks greatly derricked the area and brought in renewed interest. This and other activities across the MSGBC basin revealed even more potential for the discovery of oil in The Gambia
At the event, Minister of Petroleum and Energy Minister Fafa Sanyang praised his team for the dedication and hardwork they showed throughout the process, saying they are team of experts from the relevant sectors in the country. He said GNPC is no more a passive member but an active member in the club. From now on, he said, they will be monitored and regulated by the ministry and the commission. He further described them as the business arm of government. “You are the eye and everything of government in this business,” he said.
He assured them of the full support of the government, emphasising that his ministry will support in developing their skills in order for them to be able to fully participate in the business
Managing director of GNPC, Yaya F. Barrow said when GNPC was founded in 2003, it was created to be exactly what it is doing today.
“Its responsibility, he added is to take charge of government’s participation in industry development. Notwithstanding, as it is in all frontier countries,” he said.
He applauded the minister for his foresight and vision.
Over the course of the last ten months, he said, they appreciated the efforts and support of the African Legal Support Facility, saying their support was definitely what a growing economy like ours requires.”
Representative of BP, Jonathan Evans, said BP is expanding to Africa and they are very proud of what they are doing. He added that they are increasing their footprints in the region because they see a lot of potentials in the region.
He added that they are looking forward to having a stronger partnership, while thanking the teams for the great job they have done.