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| toubab1020 |
Posted - 07 Sep 2018 : 15:11:20
"What is new and scheduled to take place is the ‘exploration drilling’ which means drilling a well to confirm the presence or otherwise of petroleum"
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Thursday, September 06, 2018
The Gambia’s Commissioner Petroleum Mr. Jerreh Barrow, has confirmed that the Australian petroleum company licensed to explore oil offshore Gambia has indeed contracted a drillship in anticipation of the planned drilling in the last quarter of 2018.
“Drilling is scheduled for the fourth quarter and will last about 40 days. It will be the first well drilled offshore Gambia in 40 years.” A Washington-based United Press International (UPI) reported this week that FAR last week selected a final well location for Samo Project, a frontier drilling effort off the coast of Gambia.
“First and foremost exploration could simply be defined as ‘searching’ in the case of oil, ‘searching for oil’ which has been going on in The Gambia for decades! What is new and scheduled to take place is the ‘exploration drilling’ which means drilling a well to confirm the presence or otherwise of petroleum. This is scheduled to take place in the 4th quarter of 2018,” Mr. Barrow said in an email in response to questions sent this week.
FAR Oil has partnered with the Malaysian National Oil Company (PETRONAS) to execute the drilling this year. According to reports, PETRONAS took a 40 percent stake in the Samo prospect for $6 million in cash and agreed to fund 80 percent of the exploration costs for the first well, up to a maximum of $45 million after reviewing seismic data to get a better understanding of the reserve potential in frontier prospects.
UPI reported that two Gambian blocks combine for an estimated 1 billion barrels of unrisked barrels of oil and are in close proximity to the SNE oil field offshore Senegal, one of the largest finds in recent years.
FAR’s joint venture partners in March completed a geotechnical study of a 2,900-square-mile permit area off the coast of Senegal that includes the flagship SNE oil discovery. The results revealed another 198 million barrels to the estimated 641 million barrels in the best estimate scenario of contingent reserves.
Meanwhile, the Commissioner of Petroleum explains that the FAR (and now PETRONAS) work obligations for this licence period principally include Geology and Geophysical studies “and most importantly the drilling of an exploration well”
FAR already has a drillship contracted for the well. The Australian company estimates the Samo prospect contains prospective resources of 825 million barrels of oil.
Author: Kelepha Sanneh
http://thepoint.gm/africa/gambia/article/new-company-to-drill-oil-well-in-40-days |
| 2 L A T E S T R E P L I E S (Newest First) |
| toubab1020 |
Posted - 09 Sep 2018 : 23:10:14
You may well want to know a bit about this Chap, as he appears to have just entered the limelight and may have a mission in mind, if you do, here is the interview with him ,goes on for a long time so I will give you a taste,if you wish to continue click on the Standard Newspaper link .
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September 7, 2018 With Alagie Manneh
You come from Banjul. Tell us more about yourself
I will love to say I am from Banjul but, sometimes Banjulians don’t want to see me as a Banjulian. I was born in Westfield Clinic, raised in Fajara but my roots, you are right, I am from Banjul.
Specifically, how are you related to late Pierre Sarr Njie, founder of United Party?
Banjul is made up of Wolofs, Creoles, Hausas, Mandinkas, it’s a melting pot. I’m from the Njie clan, precisely the Jarga Njie family of Banjul by way of Saloum and Jollof and PS Njie is a known family member of my grandparents. He’s like a grandfather to me equally. As a child I used to visit him and… quite an inspirational person, quite a regal person and someone who really was attuned with the world and worldly affairs.
Upon return from studies, you worked at the Ministry of Finance…
When I was in the US, coming back home, my whole idea was if I am to go home, it should not be the private sector, it should be the public sector because I am coming back home to add value, to be part of the change that I think was needed in the country. The ministry was the only place I saw myself working at when I decided to return because that’s government and that’s where policies are made. I wanted to be the change I want. If you want to see change you have to be immersed in change and being immersed in change as an economist, was to be at the policy nerve-centre of what will drive this country and this economy forward. "....................................etc
http://standard.gm/site/2018/09/07/nyang-njie-economist-political-pundit/
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| toubab1020 |
Posted - 09 Sep 2018 : 23:02:49
By Alagie Manneh September 7, 2018
The Government of The Gambia has been told to stop its ‘cloudy and opaque’ oil deal negotiations and allow transparency.
Commentator and economic analyst Nyang Njie admonished that the Barrow administration would be foolish to think that Gambians don’t have their “eyes and ears” on the deal, telling them, “we are very much so interested in this oil”.
The Gambia is endowed with oil and the government is said to have already approved an assignment by FAR Gambia Ltd of a 40% interest in petroleum licences for offshore Blocks A2 and A5 to a subsidiary of Petroliam Nasional Bhd (Petronas), FAR said in a press release recently.
Speaking to The Standard yesterday, Mr Njie said it beguiles him why government chooses to remain tightlipped on such an important issue.
“We want a quick Freedom of Information Act so that we know who negotiates on our behalf, what they’re negotiating, and how much the people are having,” Njie said.
He said the oil is the nation’s natural endowment and as such, “people have a right to it and a right to know.”
He went on: “FAR Oil and Petronas have put up a press statement that they are negotiating with government, but the government never came to you and I, the principal owners of that oil, to tell us they were in negotiation with these two companies. That is scary. I think that should be a thing of the past. “
He said the government will do well to follow best practices of companies they are working with.
“If those people can come out and put up a statement, what is stopping the government to tell me this is what they have done?” he queried.
“They either do it right, or they do it wrong. These are long-term agreements and if subsequent generations of Gambians are to benefit out of this, we should get the best deals possible. To get the best deals, we should open up the process, allow transparency and sometimes public review. Let them not think Gambians don’t have their eyes and ears on this oil. We are watching.”
‘People power’
The activist also reminded Barrow’s government to be wary of people power, saying if people are not getting what they expect, they use the power vested in them to make changes. “The Gambia is endowed with oil, we want transparency in the negotiations and transactions.”
http://standard.gm/site/2018/09/07/govt-warned-against-opaque-oil-deals/ |
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