By Omar Bah
The African Association of Energy Journalists and Publishers (AJERAP) has listed The Gambia, Nigeria, Namibia and Senegal – as top energy investment destinations to watch in the second half (July – December) of 2024.
In its latest report – African Energy Outlook Second Half of 2024 – AJERAP noted that with increased activities, especially oil and gas, the four nations have become very strategic for investors interested in investing in the continent.
It stated: “The Gambia is an emerging oil and gas province with great promise. Exploration for hydrocarbons in the country dates back to the 1950s, even though the initial efforts were not successful. But the deployment of new technologies, including 3D seismic data gathering has culminated in the making of much impact.
“Further studies are ongoing at various locations, including Block A2-A5 area, located towards the south and along structural trend with the recent discoveries in neighbouring Senegal. The Gambia looks forward to welcoming investors interested in investing in the nation.
“Under the leadership of Mr. Nani Juwara, the Ministry of Petroleum and Energy, MoPE, has provided policies and incentives targeted at enhancing investment and development of the nation’s oil and gas industry. The MoPE, created in 2016 following the merger of the Ministry of Energy and the Ministry of Petroleum, has the mandate to use mineral resources, petroleum and energy as a stimulus for economic growth; employment and sustainable development of the nation. The Ministry also has the mandate to work towards harnessing hydrocarbon and mineral potentials for the sustainable development of power and other sectors of the economy.
“Similarly, the Petroleum Commission, which has Mr. Jerreh Barrow as Director General, regulates upstream and midstream petroleum activities, including managing petroleum resources, ensuring compliance with laws, policies, and regulations as well as promoting Local content for sustainable national development.
“The Commission coordinates upstream and midstream activities, including the licensing of the nation’s onshore and offshore oil blocks, receiving applications and issuing authorizations for specific petroleum activities as required under petroleum laws and regulations; supporting and facilitating acquisitions of authorizations from relevant institutions; and assess and approve appraisal programs.
“Also, The Gambia National Petroleum Corporation (GNPC) is a state-owned company, established in 2003 under the Companies Act of The Gambia, to conduct petroleum operations on behalf of the Gambian government.
“Specifically, the GNPC, having Baboucarr Njie as Managing Director, handles the upstream oil and gas operations in The Gambia on behalf of the government, including conducting seismic surveys, exploring for hydrocarbon resources, developing discoveries into production, and managing the resulting oil and gas production. Other companies carry out different activities, including Total Gambia Limited, Elton Oil, Castle Oil Limited, Galp Energia, Gam-Petroleum and Jah Oil Company Limited in The Gambia.
“The Gambia’s location on the Atlantic Ocean makes it one of the most strategic business hubs in West Africa. With only about a six-hour flight from Europe, The Gambia is strategically located and suitable for both regional and global exports as well as a good entry point for the ECOWAS 400 million population market.
“In recent years, the government of President Adama Barrow has been focusing investments in road infrastructure, while plans are underway to upgrade and expand the seaport of Banjul and build a deep-sea port on the coast, off Sanyang, that would enable deep-sea vessels to take advantage of the country’s trading incentives.
