Crude Oil

JOHANNESBURG, South Africa, February 17, 2022/ — On the back of a highly successful announcement of The Gambian A1 Licence Round during the 27th edition of Africa Oil Week (www.Africa-OilWeek.com) held in Dubai, November 2021.

The Gambia, Ministry of Petroleum and Energy, has officially launched the Request For Proposals (RFP) for the A1 licensing round.

Granted initially to BP in 2019, Block A1 became available in August 2021 after the company exited the block. This was part of BP’s company strategy to pivot from producing exploration and production of Hydrocarbons to becoming an integrated energy firm.

During its time as licensee BP performed the required work obligations, including reprocessing 2D and 3D data, conducting geohazard, geology and geophysical studies, and progressing the block to drill-ready.

The 2D and 3D BP reprocessed data is available for licensing from TGS at highly competitive rates (entry-level purchase price 10,000 USD). Additional reports and other data concerning the block will also be made available free of charge to bidders.

The deadline for submission of bids is 6 June 2022. Bidders will be required to submit bids electronically through a data room platform.

We encourage all interested bidders to visit the Ministry website, download the RFP, and register their interest with the Commission according to the instructions in the RFP.

The Permanent Secretary at the Ministry of Petroleum and Energy, Lamin Camara, The Gambia, stated, “Our key objective in designing the licensing round is to ensure an attractive fiscal regime with low entry conditions for bidders, transparent procurement process and participation rules, and clear technical and financial minimum qualification criteria. Following best practice, there will be one biddable term, as further explained in RFP.”

ALSO READ  Exploration and Investment Opportunities in Mauritania’s Petroleum Industry

“Our government team has the necessary experience and is well prepared to repeat the success of 2018 licensing round, and to once more, start and finish the licensing round within the timeframe (February 2021 to June 2022) announced,” says the Director-General of Petroleum Commission, Jerreh Barrow, The Gambia.

“The Government wishes to seize this opportunity to thank BP for their strong collaboration during the past two years and their excellent technical work on the block. We are excited to open our doors again to the international oil community and look forward to working with a new partner in Block A1” says the Hon. Fafa Sanyang, Minister of Petroleum and Energy, Republic of The Gambia.

Paul Sinclair, Vice President of Energy and Director of Government Relations at Africa Oil Week, reaffirmed the Africa Oil Week’s ongoing support and advocacy for The Republic of The Gambia and African countries in their efforts to develop oil and gas resources sustainably.

Learn more on the RFP (https://bit.ly/3gR9yeq).

AMA GHANA is not responsible for the reportage or opinions of contributors published on the website.

LEAVE A REPLY

Please enter your comment!
Please enter your name here