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Gambia terminates petroleum exploration licences

rig (1)The government of The Gambia, acting in accordance with the provisions of the petroleum laws of The Gambia has terminated petroleum exploration, development and production licences due to “failure to meet the licence obligations by the licensees, a press release from the presidency has announced Monday.

The following Petroleum licences, according to the release are; Offshore Blocks A1 and A4 licensed to African Petroleum Gambia Limited and Buried Hill Gambia B.V. as partners; Onshore Block Lower River licensed to Oranto Petroleum Limited.

“These Licences have been terminated with immediate effect. The Gambia government will not allow any institution to acquire licences only to keep them for speculation. In our bid to harness our natural resources for the benefit of Gambians, we are not going to deal with speculators,” it concluded.

 

[The Daily Observer]

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