Gambiaj.com – (LAGOS, Nigeria) – The Gambia is ramping up efforts to attract investors and partners to reinvigorate its oil and gas exploration sector following the quiet departure of Australian oil company FAR Ltd., which surrendered its licenses for the A2 and A5 offshore blocks after failing to secure additional investment.

The West African nation sits within the resource-rich Mauritania, Senegal, Gambia, Guinea Bissau, and Guinea Conakry (MSGBC) Basin—an area that has drawn international attention due to major discoveries such as Greater Tortue, Marsouin, Teranga, and SNE. However, despite promising geological prospects, The Gambia’s hydrocarbon sector has struggled to gain momentum.

FAR Ltd., which drilled the Samo-1 well in 2018 and Bambo-1 in 2021, reported only minor oil shows, raising doubts about the company’s financial and operational capacity. Its eventual withdrawal without penalties has fueled concerns about The Gambia’s ability to attract and retain reputable investors.

Speaking at the SAIPEC 2025 Conference, Cany Jobe, Director of Exploration & Production at the Gambia National Petroleum Corporation (GNPC), sought to reaffirm the country’s commitment to developing its oil and gas sector.

“The Gambia has good prospects for oil and gas exploration and production. We have onshore and offshore blocks available, with about eight offshore and two onshore blocks. Our data coverage is about 80 percent offshore and 5 percent onshore,” Jobe stated.

She emphasized GNPC’s ongoing partnerships, including a collaboration with PetroNor on Block A4, and reassured potential investors of the government’s commitment to streamlining project approvals.

“We are looking for partners and investors to drill our wells so The Gambia can also become the next success story in Africa’s oil and gas industry,” she added.

Jobe also highlighted GNPC’s efforts to integrate decarbonization initiatives into the sector, aligning with global energy transition trends.

With the government now working to restore confidence in the sector, its success in securing new investors will determine whether The Gambia can position itself as a viable player in Africa’s oil and gas industry.