en.Wedoany.com Reported - Italian energy group Eni S.p.A. (NYSE: E) signed an agreement with the Gambian government on June 5, 2026, in Milan's San Donato Milanese, securing an oil exploration, development, and production license for the country's offshore A1 block. Covering an area of approximately 1,300 square kilometers with water depths ranging from 1,250 to 3,300 meters, the block is located on the Atlantic margin, within a region with existing oil and gas discoveries. This license marks Eni's first entry into Gambia's upstream sector, further expanding its West African exploration portfolio.
Founded in 1953 and headquartered in Rome, Eni is a global energy company with operations spanning the entire value chain, including oil and gas exploration and development, refining and chemicals, natural gas sales, and power generation. In 2026, Eni expects capital investments of approximately 7 billion euros and holds significant oil and gas assets in multiple African countries. The company stated that this move aligns with its strategy to build a geographically diversified portfolio, focusing on proven but underexplored emerging regions and high-potential frontier areas. Currently, its West African operations include activities in Nigeria, Angola, the Republic of the Congo, Mozambique, and other countries.
The A1 block is located in the Mauritania-Senegal-Gambia-Guinea Bissau-Guinea (MSGBC) hydrocarbon basin, which has seen a series of major oil and gas discoveries. The adjacent Sangomar oil field in Senegal began production in June 2024, and the cross-border Greater Tortue Ahmeyim liquefied natural gas project between Senegal and Mauritania achieved its first cargo export in 2025. According to estimates by West African industry bodies, the basin's exploration maturity is less than 10%, making it one of the hotspots for deepwater exploration in the industry.
The A1 block has seen several previous licensing attempts: in 2017, BP obtained a license for the block but withdrew without conducting drilling. The current agreement was signed between Eni and Gambia's Ministry of Energy and Petroleum. Kanni Jobe, Director General of the Gambia Petroleum Commission, stated that the signing marks a new phase of structured exploration in assessing Gambia's offshore oil potential. The agreement was finalized under a tender process launched by Gambia in 2021.
This entry represents Eni's latest expansion in West African upstream operations. In November 2025, Eni signed a similar agreement with Sierra Leone, and on June 4, 2026, it obtained survey licenses for 15 offshore blocks in Guinea, demonstrating the company's ongoing strategic positioning along the Atlantic margin of Africa.
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