By Arret Jatta
In his 2025 State of the Nation Address yesterday, President Adama Barrow disclosed that two wells were tested and drilled under his administration at a cost of US$100 million but no oil and gas were discovered in commercial quantities.
He however noted that the results from both wells were “promising and positive” and explorations will continue.
“A total of five wells were test drilled in The Gambia, two of them under my administration. In partnership between FAR and Petronas, the two drilled during my tenure are named Samo-1 Well, drilled in 2018, and Bambo-1 Well, drilled in 2021. The drilled wells under my government cost US$100 million. Although the results from both wells are very promising and positive, no discovery was made,” Barrow explained.
He added that the two companies exited The Gambia licences after fulfilling their obligations, which were primarily to drill the wells.
President Barrow also stated that in 2019, British company BP was granted the A1 licence and they paid the government a US$10 million signature bonus and a US$30 million penalty for exiting without fulfilling their licence commitments.
“It was as a result of their policy shift from oil and gas exploration to renewable energy that BP exited The Gambia at the outbreak of the Covid-19 epidemic,” he explained.
According to the president, the government is building the necessary institutional and legislative foundation to attract investors in oil and gas exploration off our shores.
He also reaffirmed that his government will continue to prioritise investments in electricity generation, renewable energy, petroleum exploration, and mineral resource management to ensure sustainable energy security for all Gambians.
