Baboucarr Njie, the Managing Director of the Gambia National Petroleum Company (GNPC), is set to speak at the Invest in African Energy (IAE) forum in Paris, scheduled for May 14-15. Njie’s presentation will focus on highlighting investment opportunities within The Gambia’s oil and gas sector, aiming to attract global financiers and technology providers to capitalize on the nation’s untapped energy prospects.

GNPC, responsible for maximizing benefits from the country’s hydrocarbon resources, promotes oil exploration, regulates petroleum product pricing, and encourages private sector investment in the sector’s development. Through the IAE 2024 forum, GNPC aims to showcase The Gambia’s attractive fiscal terms and promote areas with high prospectivity.

The IAE 2024 forum is an exclusive event designed to facilitate investment between African energy markets and global investors. Scheduled for May 14-15, 2024, in Paris, the event offers two days of intensive engagement with industry experts, project developers, investors, and policymakers. For more information, visit www.invest-africa-energy.com or contact sales@energycapitalpower.com to sponsor or participate as a delegate.

Recent exploration activities in The Gambia’s Bambo prospect reservoirs have revealed oil shows, suggesting the potential for up to 1.2 billion barrels of oil. This data, acquired by independent oil and gas company FAR, has opened new exploration opportunities in the A2 and A5 Blocks. Although no discovery has been made yet, the Gambian basin offers significant potential for play-opening discoveries and is located near Senegal’s Sangomar field, expected to come online with a 100,000-barrel-per-day project later this year.

FAR was granted a 12-month extension to the permit term for Blocks A2 and A5 last July, allowing the company to continue exploration through September 2025. The company has also announced farm-out plans, with new partners expected to finance geoscience reviews and future exploration wells. With much of the country’s basin remaining unexplored, GNPC aims to expedite private investment in exploration and facilitate discussions with future investors at the IAE forum.

“GNPC is committed to collaborating with global partners to unlock The Gambia’s full oil and gas potential, with IAE 2024 offering unparalleled market access. Strengthened domestic commerce laws and The Gambia’s petroleum licensing system have made investing in the country more accessible,” stated Sandra Jeque, Event and Project Director at IAE event organizer Energy Capital & Power.