The government of Gambia has announced that it will license hydrocarbon blocks in a competitive selection process, a move that aims to develop the vast hydrocarbon opportunities in the country and wider Senegal basin
The announcement was made by Fara Sanyang, minister of petroleum and energy, during a recent event hosted by international law firm Berwin Leighton Paisner (BLP) in association with Gambian government and Amie Bensouda & Co LP.
Commenting on the decision, Sanyang said, “We believe the hydrocarbon blocks offer investors and Gambia huge potential for future growth as we strive to explore and develop the wealth provided by our natural resources.”
Alexander Sarac, partner and head of Africa energy and infrastructure at Berwin Leighton Paisner, added, “Gambia is opening up to the world in this process. It is a chance for investors across the globe to see the huge economic potential of the region.”
At the event, the delegation from government provided a detailed update on the hydrocarbon investment opportunities, anticipated selection process due to be implemented in the coming months as the country engages with the petroleum industry and a road map to licensing the open blocks.
BLP is an international law firm with offices in 14 different countries around the world including in Russia, Singapore, Hong Kong, the UAE and others. The company has completed more than 47,000 projects in 128 countries, spanning across 60 different areas of law.
