Offshore oil miss fails to dent Gambian optimism
The West African country’s most recent effort to find offshore oil came up short, but explorers hope to drill more wells in 2019
The first offshore well drilled in The Gambia in four decades found more water than oil and has been abandoned. But both the drillers and the Gambian government remain optimistic that the block's proximity to big oil finds off central Senegal means it could yet prove oil-rich. Australian independent Far drilled the Samo-1 well in the A2 permit area in partnership with Malaysia's Petronas, touting a prospective resource of 825mn barrels in the area. But Far said in November that wireline logging data indicated the main target horizons in the well, which was drilled to a total depth of 3,240m, were water-bearing. The government has extended Far's current licence to June 2019 to allow for furth
Also in this section
4 October 2024
Economic ill-health may be a wake-up call to the world about the Asian nation’s shifting oil buying status
3 October 2024
The formation’s gas-to-oil ratio is set to keep rising, but new markets and midstream plans mean infrastructure constraints may not be an issue
2 October 2024
Geopolitical strife embroiling Iran and political corruption in Venezuela suggest little near-term change to oil production from either of the sanctioned states
1 October 2024
Our look into Petroleum Economist's archives continues with October 1960 coverage of another key moment in the history of oil and gas: the founding of OPEC
