Gambia National Petroleum Corporation and British Petroleum Exploration (Gambia) Ltd, on Tuesday 23rd July 2019 signed a Joint Operating Agreement for Block A1 License.
This JOA marks the first involvement of the national oil company as partner on an oil license in the history of The Gambia. GNPC as government licensee has been assigned a 10% Participating Interest in the license. The JOA defines the operational boundaries of the BP-GNPC relationship.
The joint operating agreement was signed by GNPC managing director Yaya F. Barrow and BP Africa New Countries Vice President Jonathan Evans.
The historic ceremony was graced by senior government officials, members of the petroleum negotiation committee, GNPC Board members, BP representatives and management and staff of GNPC and the Ministry of Petroleum and Energy on the invitation of the Honorable Minister Fafa J. Sanyang.
The JOA was reviewed and negotiated by a GNPC negotiation team with assistance from the Petroleum Negotiation Committee, Africa Legal Support facility, International Law Firm BCLP and Senghore Law Firm. We wish to congratulate the Negotiation team under the stewardship of Managing Director Yaya F. Barrow and the coordination of Latirr Carr and Dr. Muhammed Lamin Sanyang for this historic achievement.
In partnership with GNPC, BP Exploration (Gambia) Ltd will start work in earnest to explore the potentials of offshore Block A1 in our search for oil in Gambian waters.
GNPC wishes to congratulate all staff, stakeholders and the people of The Gambia for this historic achievement. The Corporation will continue to work in partnership with Ministry of Petroleum and Energy, stakeholders and all present and future Licensees to maximize the benefits of the oil and gas industry for our people.