{"id":481865,"date":"2025-06-21T20:46:42","date_gmt":"2025-06-21T20:46:42","guid":{"rendered":"https:\/\/www.financialafrik.com\/en\/2025\/06\/21\/gambia-100-million-invested-in-two-offshore-wells-without-commercial-success\/"},"modified":"2025-06-21T20:46:49","modified_gmt":"2025-06-21T20:46:49","slug":"gambia-100-million-invested-in-two-offshore-wells-without-commercial-success","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2025\/06\/21\/gambia-100-million-invested-in-two-offshore-wells-without-commercial-success\/","title":{"rendered":"Gambia: $100 million invested in two offshore wells without commercial success"},"content":{"rendered":"
<\/div>

Banjul, June 19, 2025 – Gambian President Adama Barrow revealed to the National Assembly that two oil wells drilled during his term cost $100 million without resulting in a commercially viable discovery.<\/p>\n

During his annual state of the nation address, the Head of State specified that the Samo-1 (drilled in 2018) and Bambo-1 (in 2021) wells were explored in partnership with the companies FAR and Petronas. “The results were promising, but no commercially exploitable discovery of oil or gas was made,” he said.<\/p>\n

Costly exploration, uncertain results<\/p>\n

These two wells bring the total number of explorations conducted in Gambian waters to five. FAR and Petronas have since left the blocks concerned after fulfilling their contractual commitments.<\/p>\n

President Barrow also mentioned the withdrawal of the British group BP, which obtained the offshore license A1 in 2019 against a signature bonus of $10 million. The company withdrew in 2020, at the beginning of the pandemic, citing a shift in strategy towards renewable energies. As a result, a penalty of $30 million was imposed for non-execution of the drilling phase.<\/p>\n

Focus on energy security<\/p>\n

Despite these setbacks, the government intends to strengthen the legislative and institutional framework to attract new partners in the offshore sector. Barrow stated that his administration continues to make energy a strategic priority, with targeted investments in electricity production, renewables, hydrocarbons, and mineral resource management.<\/p>\n

“Our goal is to ensure sustainable energy security for all Gambians,” he concluded.<\/p>\n

<\/div>","protected":false},"excerpt":{"rendered":"

Banjul, June 19, 2025 – Gambian President Adama Barrow revealed to the National Assembly that two oil wells drilled during his term cost $100 million without resulting in a commercially viable discovery. During his annual state of the nation address, the Head of State specified that the Samo-1 (drilled in 2018) and Bambo-1 (in 2021)<\/p>\n","protected":false},"author":537202,"featured_media":481866,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"https:\/\/www.financialafrik.com\/2025\/06\/21\/gambie-100-millions-usd-investis-dans-deux-puits-offshore-sans-succes-commercial\/","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12046],"tags":[],"class_list":["post-481865","post","type-post","status-publish","format-standard","has-post-thumbnail","category-leaders-en","pmpro-has-access"],"yoast_head":"\nGambia: $100 million invested in two offshore wells without commercial success - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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