The Gambia is witnessing renewed interest in its offshore petroleum sector, following several years of limited exploration activity.

Seven of the country’s eight offshore blocks had been available after Australian firm FAR relinquished blocks A2 and A5 in early 2024, following an unsuccessful drilling campaign that included the Samo-1 and Bambo-1 wells. Block A4, the only remaining licensed block at the time, was surrendered last month by PetroNor after it failed to secure a drilling partner—briefly leaving The Gambia’s offshore with no active licences.

That lull has now been reversed.

Sources familiar with the sector say blocks A2 and A5 were re-licensed at the end of November for a 30-year period. The new licence holder is Atlas Oranto, the Nigerian-owned oil company led by Arthur Eze, which has also recently acquired acreage in Liberia.

Further developments may be imminent. At this week’s MSGBC Oil, Gas and Power Conference in Dakar, a Gambian government official disclosed that ENI and Ratio Petroleum are close to signing a separate offshore licence agreement. While the specific blocks were not named, industry observers believe blocks A1 and A4 are likely candidates, given their geological similarities to producing and prospective fields in neighbouring Senegal.

At the Africa Energy Week conference in Cape Town in October, The Gambia’s Petroleum Commission highlighted strong geological correlations between block A4 and Senegalese discoveries, suggesting comparable reservoir prospects. Officials noted that the Rosewood prospect in A4 could be particularly attractive due to its shallower burial depth, a key factor for hydrocarbon preservation.

Block A1 was previously held by bp but was relinquished in 2021 during the Covid-19 pandemic, a move that reportedly came with significant financial penalties due to outstanding exploration commitments.

The renewed licensing activity signals growing confidence in The Gambia’s offshore potential, as regional exploration momentum builds across the West African margin.

By Henk Kombrik 

This article was first published by GEOExpro