May 12, 2016, 1:21 PM
Carmac Energy is reported to be involved in the exploration, development and production of oil and gas.
Presided over by President Yahya Jammeh, the signing ceremony was held at State House in
Speaking at the signing ceremony, President Jammeh said the fact that his government attaches great importance to petroleum exploration and development in The Gambia is an open secret.
This, he went on, was why the Gambia government put in place some important instruments to provide the necessary conducive environment for the petroleum business, especially in the upstream in The Gambia.
Underscoring the importance of energy to the socio-economic development of The Gambia, Jammeh said
He recalled that the
“This resulted in the discovery of a huge petroleum prospect in the offshore, named the Alhamdulillah Prospect; this ignited international oil company interest in The Gambia resulting in the negotiation and signing of the first-ever offshore petroleum licences in 2006,” he added.
According to him, the partnership between the
“This is a partnership where everybody goes home happy; we do not want to take more than what we supposed to have. We want to make sure that this is a partnership that is mutually rewarding,” he said, adding that for any partnership to last, it has to be based on trust, transparency, accountability, honesty and sincerity.
Dr Kase Lawal, chairman and chief executive officer of Camac Energy Company, assured the
According to him, Gambians will have the opportunity to study petroleum engineering in
“In the 26 years we have been in business, we started as an agricultural commodity company in
Also speaking at the ceremony, the minister of Petroleum, Mrs Teneng Ba-Jaiteh, said the offshore area of The Gambia has been divided into six blocks namely, blocks A1 to A6 each of which is approximately 1,300 km sq in size.
“In September 2006 the ultra deep water blocks A1 and A4 were licensed to a Canadian independent oil company which later in 2010 signed a joint operating agreement with African Petroleum Limited, a UK-based international oil company, and the current operator of A1 and A4 licenses,” she explained.
Noting that the