FAR And Petronas Sign Joint Agreements For Gambian offshore Asset

This follows granting by the government of new licences for the blocks effective 1 October last year.

The partners then updated the terms of the existing JOAs by entering the new agreements.

FAR has a 50% interest in Blocks A2 and A5 and serves as the operator.

In a press statement, FAR said: “Efforts to find an additional partner for the drilling of the next well in The Gambia are ongoing with FAR having run numerous data room presentations for interested parties.

“FAR is working to conclude a farm-out before the restart of the drilling operations.”

Covering an area of approximately 2,682km²within Mauritania, Senegal-Guinea-Bissau-Conakry (MSGBC) basin, both the blocks are located to the south of FAR’s Sangomar Field development offshore Senegal.

Courtesy of Offshore Technology