CAMAC bags blocks offshore The Gambia

摘要

CAMAC ENERGY HAS entered into an agreement with the Gambian Ministry of Petroleum (on behalf of the Government of the Republic of The Gambia) on the provisional award of two offshore exploration blocks, A2 and A5, in water depths of between 600 and 1,000 m. CAMAC Energy will be the operator with 85 per cent interest in the blocks, which cover a total surface area of 2,666 sq km. Gambia National Petroleum Company will be carried at 15 per cent through first oil. The agreement sets forth the negotiated fiscal terms and work programme for the two blocks, and this award is subject to submission of an Environmental Impact Assessment (EIA) and signing of final petroleum exploration licenses within 90 days.