The Gambia, 07 February 2022: The Ministry of Petroleum and Energy, The Gambia, has officially launched the licensing round for Block A1. The Request for Proposal (RFP) is now available for download on the Ministry of Petroleum’s (Ministry) website.
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 resources to integrating energy. During its time as licensee BP performed the required work obligations, including reprocessing 2D and 3D data, conducting geohazard, geology and geophysical studies, and developed the block such that it is now drill ready. The 2D and 3D BP reprocessed data is available for licence from TGS, at extremely competitive rates (entry-level purchase price 10,000 USD). Additional reports and other data in relation to 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.
Interested bidders are encouraged to visit the Ministry website, download the RFP and register their interest with the Commission in accordance with the instructions in the RFP.
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. In accordance with best practice there will be one biddable term, which is further explained in RFP” says the Permanent Secretary at the Ministry of Petroleum and Energy, Lamin Camara, The Gambia.
Additionally, Commissioner for Petroleum, Jerreh Barrow, The Gambia also confirmed that the government team has the necessary experience and is well prepared to repeat the success of the 2018 licensing round and to once more, start and finish the licensing round within the timeframe (February 2021 to June 2022) announced.
On behalf of the Government, Honourable Fafa Sanyang, Minister of Petroleum and Energy, seized the opportunity to thank BP for their strong collaboration during the past two years and their excellent technical work on the block. He expressed the government excitement to open the doors again to the international oil community and look forward to working with a new partner in Block A1.