Indies seek partners in Gambia
The independent oil and gas firms active in the country’s promising offshore are looking to farm out their assets as they seek to pursue further exploratory and drilling work
ASX-listed independent FAR Limited said in February that it would “commence a farm-down of its interest in [Gambia’s] blocks A2 and A5”, following the results of its latest drilling campaign at Bambo in block A2. The firm is seeking a carry-on for the cost of drilling another well in 2023, as well as contributions to past costs. The Bambo drilling “presented some technical challenges” and is in deep waters, both factors that would likely increase capex costs for any eventual development. FAR operates blocks A2 and A5 with 50pc stakes, in partnership with Malaysian NOC Petronas. Nevertheless, the drilling “confirmed the presence of a prolific oil source in the area” of Bambo in block A2, form
Also in this section
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them
22 April 2024
Beijing’s renewed targeting of NOC management could threaten investment