The Gambia has formalized two previously awarded petroleum exploration, development, and production licenses to offshore Blocks A2 and A5 to CAMAC Energy Inc., Houston.
The Gambia has formalized two previously awarded petroleum exploration, development, and production licenses to offshore Blocks A2 and A5 to CAMAC Energy Inc., Houston.
The blocks cover a combined 2,666 sq km in 600-1,000 m of water east of deepwater Blocks A1 and A4 operated by African Petroleum Corp.
CAMAC Energy is the operator with a 100% interest in each block. The Gambia National Petroleum Co. has the right to elect to participate up to a 15% interest following approval of a development and production plan. CAMAC is responsible for all expenditures prior to such approval even if GNPC elects to participate.
During the initial 4-year exploration phase, CAMAC Energy will conduct surveys, acquire and interpret 2D and 3D seismic data, identify prospects, and drill one exploration well on each block.
About the Author
Alan Petzet
Chief Editor Exploration
Alan Petzet is Chief Editor-Exploration of Oil & Gas Journal in Houston. He is editor of the Weekly E&D Newsletter, emailed to OGJ subscribers, and a regular contributor to the OGJ Online subscriber website.
Petzet joined OGJ in 1981 after 13 years in the Tulsa World business-oil department. He was named OGJ Exploration Editor in 1990. A native of Tulsa, he has a BA in journalism from the University of Tulsa.
