Continental Focus, International Reach

BP Taking Chance on Gambia

Thursday, May 2, 2019

News out of Gambia has UK-based major E&P firm BP signing a contract to explore for oil and gas off the country’s coast. A statement from President Adama Barrow’s office said that BP representatives met Barrow at the presidential palace but provided no further details about the deal.

The UK firm was awarded Block A1, which was previously held by African Petroleum until the government revoked its rights. The government said that African Petroleum’s rights to the block had expired as it failed to meet contractual obligations.

African Petroleum launched arbitration proceedings in 2017.

While BP failed to decline on the arbitration proceedings, it did say that it won the license in a bidding round.

A spokeswoman for BP declined to comment on the arbitration proceedings and said it had won the license in a bidding round.