Texas-based oil company has got approval to extend the initial exploration of oil in The Gambia. Erin Energy Corporation won exploration rights for blocks A2 and A5 in the country. The two-year exploration work includes requirement to drill one of the blocks during the exploration period.
The Gambia’s Petroleum Ministry has equally approved the permits to proceed with Erin Energy’s planned multi-client 3D seismic data acquisition on blocks A2 and A5.
The Chairman and CEO of Erin Energy hailed the development, saying the granting of licenses is significant since it will allow the company sufficient time to complete the 3D seismic acquisition on the blocks, develop strategic options for creating value for all stakeholders and to drill the exploration well. “We are grateful for the support from the government of The Gambia and the staff of the ministry for their cooperation during the negotiations,” Kase Lawal Business Wire.
Erin Energy, which is headquartered in Houston, Texas, operates the A2 and A5 blocks with 100% interest. The blocks are located 30 miles offshore.
Erin Energy Corporation, which focuses on energy resources in sub-Saharan Africa, has offshore exploration licenses in Ghana, Kenya and Nigeria.
Since President Yahya Jammeh came to power in 1994, mining and exploration of The Gambia’s resources have been taking place. However, the government is yet to come clean on how much money has been derived from the exportation of the West African country’s natural resources.
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