See also:
» 05.09.2008 - British engineer jumps Gambian jurisdiction
» 26.06.2008 - Gambia gets "huge" iron ore
» 02.05.2008 - Equatorial Guinean leader tops Africa's media predators
» 22.02.2008 - Expelled firm's chief arraigned
» 14.02.2008 - Gambia probes expelled firm
» 21.01.2008 - Gambia discovers uranium
» 17.01.2008 - Gambia halts mining firm
» 27.12.2007 - Gambia set for oil drilling

China wholesale online through

Houlihan's coupons

Finn autentiske matoppskrifter fra hele verden på
Gazpacho Børek Kartoffelsalat Taboulé Gulasj Albóndigas Cevapi Rougaille Japrak sarma Zwiebelbrot Klopse Giouvetsi Paella Pljeskavica Pica pau Pulpo a la gallega Flammkuchen Langosj Tapenade Chatsjapuri Pasulj Lassi Kartoffelpuffer Tortilla Raznjici Knödel Lentejas Bœuf bourguignon Korianderchutney Brenneslesuppe Proia Sæbsi kavurma Sardinske calamares

Autentiske matoppskrifter fra hele verden finner du på
Réunion Portugal Aserbajdsjan Serbia Tyskland Seychellene Bosnia Spania Libanon Belgia India Kroatia Hellas Italia Ungarn Komorene Georgia Mauritius Østerrike Romania Frankrike

Economy - Development

Mysterious oil finds in The Gambia

afrol News, 16 February - Gambian President Yahya Jammeh has announced the discovery of "very large quantities" of oil onshore and offshore. The announcement comes as a surprise as it now is one year since the last known international oil company was told to leave The Gambia.

In a televised speech, the Gambian President said he was "pleased to announce that oil has been discovered in the Gambia." According to Mr Jammeh, a comprehensive study had been conducted both onshore and offshore, which had concluded "that there exists oil in the Gambia, in very large quantities."

President Jammeh added that, based on the conclusion of this study, one soon was to "start experimenting" at the sites of the discoveries. "The country will be a rich nation soon," the Head of State promised his countrymen, though adding that people needed to stay calm and continue to pursue their businesses.

The speech promising a new wealth to impoverished Gambians however did not mention who had been involved in the study and the explorations or who was to conduct the upcoming "experiments". The Gambia does not have a developed upstream oil industry.

Since 1999, the Australia-based oil company Fusion Oil has been the main driving force in oil explorations in The Gambia. Contacted by afrol News, however, a spokesperson of Fusion Oil said the company had relinquished its permit to the Gambian government last year, or "actually, they didn't renew it."

At Fusion Oil's Perth offices, the spokesperson was not informed about the oil finds announced by President Jammeh on Gambian television. The company further had no information to whether other international companies had entered into oil exploration in The Gambia. Any such involvement was not known to other oil industry sources contacted by afrol News.

Except for Mr Jammeh's oil discovery statement, so far no oil or gas resources have been discovered in The Gambia so far. Small scale oil exploration however has been taking place offshore the country's short coastline since 1998. Fusion Oil, which explored the large Gambia Deepwater PPL block between 1999 and 2003, never reported any oil discoveries in the country.

Nevertheless, the Anglo-Australian company has always assessed the chances of finding oil offshore The Gambia as very good. The deepwater block offshore The Gambia has rock formations that "could be effective reservoirs" and belongs to the same promising geological zone as the deepwater blocks offshore Mauritania, where oil production soon is to begin.

Fusion Oil however interrupted its explorations and evaluation studies one year ago after its permit was not renewed, and the evaluation work is believed to have been continued by the Gambian government.

While it has not been possible to obtain commentaries from the government of The Gambia, the government's official website says the country is keen to attract prospectors for its possible oil fields. Further, the site says, "the government is relentlessly collecting, updating and storing the relevant seismic data and marketing the prospects to interested oil companies and businesses."

- Create an e-mail alert for Gambia news
- Create an e-mail alert for Economy - Development news

    Printable version

On the Afrol News front page now

Rwanda succeeds including citizens in formal financial sector

afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.

Famine warning: "South Sudan is imploding"

afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
Panic in West Africa after Ebola outbreak in Guinea

afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
Ethiopia tightens its already strict anti-gay laws

afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
Ethiopia plans Africa's biggest dam

afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.

front page | news | countries | archive | currencies | news alerts login | about afrol News | contact | advertise | español 

©  afrol News. Reproducing or buying afrol News' articles.

   You can contact us at