By Omar Bah
The minister of petroleum and energy Nani Juwara will address this year’s African Energy Week (AEW)Invest in African Energy 2024 conference, which takes place in Cape Town from November 4-8.
With major investments from the African Development Bank, The Gambia is poised to increase its electrification rate to 70% – 50% in rural areas – by the end of the year.
Also, The Gambia represents one of Africa’s final oil and gas frontiers and the participation of Minister Juwara at the conference will be crucial for highlighting the immense opportunities present across the country’s upstream and downstream sectors.
His participation is also poised to showcase the role hydrocarbon resources will play in addressing both the country and Africa’s energy and socioeconomic development needs.
The conference offers a platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy.
The Gambia’s offshore prospects offer significant potential for play-opening discoveries. It’s Bambo prospect reservoirs have revealed oil shows in recent years and could hold up to 1.2 billion barrels of oil. The data – acquired by independent oil and gas company FAR – has opened additional material exploration opportunities in the offshore A2 and A5 blocks.
Last year, The Gambia extended FAR’s permit for the blocks until September 30, 2025, with reduced annual fixed costs. FAR is now seeking farm-in partners to fund geoscience reviews and exploration wells.
Meanwhile, global energy company the Nigerian National Petroleum Company and state-owned Gambian National Petroleum Corporation signed an MoU in the same year to explore and develop crude oil in the country. The agreement entails geological studies, seismic data analysis and potential drilling activities.
At last year’s AEW conference, The Gambia’s Ministry of Petroleum and Energy and hydrogen developer H2 Gambia Limited signed an agreement on hydrogen exploration in the country.
The deal will allow for extensive research to be undertaken over a period of one year and forms part of The Gambia’s decarbonization efforts.
The Gambia recently entered a new era of energy development with the inauguration of its first large-scale solar energy facility in Jambur in April 2023. Built by Chinese manufacturer Tebian Electric Apparatus, the 23 MW solar plant serves to reduce the country’s reliance on imported fossil fuels.
Minister Juwara is expected to share his insights into the investment opportunities across The Gambia’s oil and gas value chain, engaging with global financiers and technology providers to attract capital to its untapped energy prospects.
According to organisers, as an experienced leader in the country’s energy space, Minister Juwara’s participation aligns with the conference’s strategy to encourage private sector investment and participation while ensuring The Gambia benefits from its hydrocarbon resources.
