Indies seek partners in Gambia

The independent oil and gas firms active in the country’s promising offshore are looking to farm out their assets as they seek to pursue further exploratory and drilling work

ASX-listed independent FAR Limited said in February that it would “commence a farm-down of its interest in [Gambia’s] blocks A2 and A5”, following the results of its latest drilling campaign at Bambo in block A2. The firm is seeking a carry-on for the cost of drilling another well in 2023, as well as contributions to past costs. The Bambo drilling “presented some technical challenges” and is in deep waters, both factors that would likely increase capex costs for any eventual development. FAR operates blocks A2 and A5 with 50pc stakes, in partnership with Malaysian NOC Petronas. Nevertheless, the drilling “confirmed the presence of a prolific oil source in the area” of Bambo in block A2, form