Oranto ink petroleum exploration...

Oranto ink petroleum exploration deal
http://hellogambia.com/?p=3123

Hi guys, an update from our neighbours in The Gambia

"The government of The Gambia and the Oranto Petroleum Limited Monday afternoon signed at State House in Banjul the Onshore Petroleum Exploration and Production Licence Block Lower River, an event that marked the culmination of two years of intense negotiations between the two parties."


However, what interested me was the following comment by the Minister of Petroleum

"She further disclosed that a number of international oil companies, have also shown interest in the remaining four offshore Blocks [A2, A3, A5, and A6], while indicating that negotiations are far advanced for two of the Blocks -A2 and A5." contained in the following paragraphs:


"Deputy minister Jaiteh equally noted that though their negotiations took a long time, this was necessary in order for them to carefully and critically examine every element of the license with a view to ensure that it conforms to international standards and results in a win-win situation for both parties. She informed the gathering that Oranto together with its sister company [Atlas Petroleum International] have expanded their exploration profile extensively in the sub-region, indicating that they have so far acquired several petroleum exploration blocks in Nigeria, Sierra Leone, Equatorial Guinea, Ghana, Liberia and Senegal.

Deputy Minister Teneng Ba-Jaiteh also stated that a lot of achievements have been registered in petroleum exploration activities in the offshore areas of The Gambia following the signing of the two deep-water offshore Blocks A1 and A4. Currently, the Licensees, African Petroleum in partnership with Buried Hill, are carrying out more than 2500 square kilometers of 3D seismic data acquisition in these blocks. This survey, costing over US$12 million, is being financed by the Licensees as part of the License Agreement, she disclosed. She further disclosed that a number of international oil companies, have also shown interest in the remaining four offshore Blocks [A2, A3, A5, and A6], while indicating that negotiations are far advanced for two of the Blocks -A2 and A5."

Interest in West Africa oil plays seems alive and well

cheers
billdah