Gambia remarkets offshore Block A1 after BP exit

Gambia's ministry of petroleum and energy is remarketing the offshore block A1, which BP exited last year, in an attempt to kick start the sector after recent disappointing exploration results.

A request for proposal for the block was made available on the ministry's website yesterday.

Gambia granted Block A1 to BP in 2019, but became available again in August last year after the UK-based firm relinquished its interest. BP suspended work on the block in early 2021 because of the spread of Covid-19, then told the government it would be unable to drill there because of its broader strategic shift into renewables.

During its time as licensee BP performed the required work obligations, including reprocessing 2D and 3D data, conducting geohazard, geology and geophysical studies, and progressed the block so that it is now ready for drilling.

The deadline for the submission of bids is 6 June.

Gambia will hope the offering leads to success, given that Australian firm Far's Bamboo-1 exploration well in offshore block A2 recently yielded disappointing drilling results. It showed signs of oil, but no live columns, where previously the firm estimated the area to contain about 1.12bn bl of recoverable hydrocarbons.

Far is operator of Gambia's offshore blocks A2 and A5 with a 50pc stake in each. Its joint-venture partner PC Gambia — which is 100pc owned by Malaysia's state-owned energy firm Petronas — holds the remainder.

By Elaine Mills