The Nigerian National Petroleum Corporation (NNPC) has signed a Memorandum of Understanding (MoU) with the Government of the Republic of The Gambia to explore and develop crude oil in the West African nation.
The signing ceremony took place in the Gambian capital, Banjul, and was attended by officials from both countries. The agreement will see the NNPC work with the Gambian National Petroleum Corporation (GNPC) to explore and evaluate potential oil resources in the country.
In a statement, the NNPC said the MoU was a significant step towards further strengthening bilateral relations between Nigeria and The Gambia, and would provide opportunities for the two countries to collaborate in the oil and gas sector.
According to the statement, the exploration activities will include geological and geophysical studies, as well as seismic data acquisition and analysis. The NNPC will also work with the GNPC to identify potential exploration blocks and carry out drilling activities in the country.
Read also:NNPC to begin oil drilling in Nasarawa March 21
The Gambian Minister of Petroleum and Energy, Fafa Sanyang, described the MoU as a major milestone for the country’s oil and gas industry and said it would help to unlock the potential of The Gambia’s hydrocarbon resources.
For the NNPC, the agreement represents another step in its efforts to expand its operations beyond Nigeria and tap into the vast oil and gas reserves in other African countries. The corporation has been involved in several similar initiatives in recent years, including exploration projects in Niger, Chad, and Benin Republic.
Overall, the MoU between the NNPC and the Government of The Gambia is a positive development for both countries and has the potential to boost economic growth and cooperation in the oil and gas sector in West Africa.
