By: Suwaibou Touray Jan 7, 2014
Gambia has terminated offshore and onshore licenses of three oil explorers that the West African nation said violated its petroleum law.
“These licenses have been terminated with immediate effect,” the presidency of the country that’s bordered on three sides by Senegal, said in a press release. Gambia won’t allow the acquisition of licenses solely for speculation purposes, the government said.
It terminated the licenses for offshore A1 and A4 blocks licensed to partners African Petroleum Gambia Ltd. and Buried Hill Gambia BV, along with the onshore Lower River block, licensed to Oranto Petroleum Ltd. Gambia has terminated petroleum exploration, development and production licenses due to “failure to meet the license obligations by the licensees,” the statement said.
Gambia is the smallest country in mainland Africa with a population of about 1.8 million people. The former British colony left the Commonwealth group of nations last year.