Gambia’s Ministry of Petroleum and Energy launched the licensing round for Block A1 Feb. 7, months following bp PLC’s exit from the offshore block in 2021 after it failed to meet contract obligations.
bp was granted the license in 2019, but later relinquished its rights. During its time as licensee operator, bp reprocessed 2D and 3D data, conducted geohazard, geology, and geophysical studies, and progressed the block to drill ready. In early 2020, the slowdown due to COVID-19 led bp to suspend drilling plans. In July 2020, bp informed the Ministry of Petroleum and Energy that it would not be able to drill a well in the block due to a change in its corporate strategy towards low carbon energy (OGJ Online, Aug. 13, 2021).
The 2D and 3D BP reprocessed data is available for license from TGS, and additional reports and other data in relation to the block will be made available to bidders.
The deadline for bid submission is June 6, 2022. Bidders will be required to submit bids electronically through a data room platform.