Ministry of Petroleum & Mineral Resources is responsible for
development and production of crude oil in The Gambia. There exists a
number of petroleum
exploration and overseas foreign investment opportunities in Gambia's
offshore oil reserves.
One of the departments main objectives is to promote the participation
of local business people, ordinary Gambians and companies in the
upstream investment opportunities and and capital joint ventures to ensure that The Gambia obtains
the maximum achievable benefits from its crude oil resources.
The ministry further aims to
promote increased production and exploration activities in the onshore
frontier areas by providing globally competitive incentives for
• One offshore well (Jammah 1) and two onshore oil wells;
• Offshore 2D reflection seismology survey data 118 lines, 4,883 sq. km;
• Offshore 3D seismic data 502 sq. km;
• Geological and geophysical reports on all programmes
• Onshore 2D data 330 km.
• Six year oil exploration period (negotiable);
• 30 year license term, can be extended by another 10 years;
• Licensing available through exclusive negotiations;
• Import duty exemption on exploration equipment;
• Zero payroll tax prior to the start of the initial development and
• Flexible terms and conditions;
• Oil drilling licences can be awarded on a 100% basis and joint oil ventures
• Gambia National Petroleum Company gets 10% government involvement;
• Work commitment provided by company and negotiable but more seismic
particularly 3D and drilling are encouraged.