Petroleum Africa
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Wednesday, January 8, 2014
Three oil firms holding acreage in Gambia have had their licenses taken away by the government according to a statement from the office of Gambia’s president. The statement said African Petroleum and its partner Buried Hill Energy had lost offshore blocks A1 and A4, while Oranto Petroleum lost its Lower River onshore block.
“These licenses have been terminated with immediate effect. The Gambia government will not allow any institution to acquire licenses only to keep them for speculation,” the statement said. “In our bid to harness our natural resources for the benefit of Gambians, we are not going to deal with speculators,” it added.
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