en.Wedoany.com Reported - Eni has signed an agreement with the Government of The Gambia, jointly signed by the company and Gambia's Minister of Energy and Petroleum, Nani Juwara, to obtain an exploration, development, and production license for Block A1 offshore the country.
Block A1 covers an area of approximately 1,300 square kilometers, located in waters with depths ranging from 1,250 to 3,300 meters, within a section of the Atlantic margin where hydrocarbon discoveries have already been made. According to the company's statement, acquiring this block aligns with its strategy to increase exploration opportunities in proven and under-explored areas.
The operatorship of this block has undergone several changes in recent years. In August 2021, after BP agreed to pay $29.3 million (₤21.98 million) to settle unfulfilled drilling obligations, the Gambian Ministry of Petroleum announced that the block was available for licensing. BP failed to drill a well as required by the license before the initial exploration period ended on July 29, 2021. Subsequently, the Gambian Ministry of Petroleum stated that Block A1 would be returned to the government unencumbered and could be licensed on the market.
BP initially acquired rights to Block A1 in 2019, after Gambian authorities revoked the concession from African Petroleum for failing to meet contract terms before the license expired. BP completed its minimum work obligations during the first exploration period, including acquiring reprocessed 2D and 3D data and conducting an environmental impact assessment, but did not fulfill its commitment to drill an exploration well. In early 2020, BP suspended its drilling plans due to the impact of the COVID-19 pandemic. In August of the same year, BP announced a strategic transformation from an international oil company focused on resource production to an integrated energy company, subsequently notifying the Gambian Ministry of Petroleum that it could no longer fulfill the work commitments associated with the A1 license and decided to withdraw.
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