The Nigerian National Petroleum Company Limited (NNPCL) has signed a Memorandum of Understanding (MoU) with the Government of Gambia to explore and develop crude oil in the West African nation.
The signing ceremony was held in the Gambian capital, Banjul, and was attended by officials from both countries.
The MoU will enable the NNPCL to work with the Gambian National Petroleum Corporation (GNPC) to explore and evaluate potential oil resources in The Gambia.
The NNPCL in a statement explained that the MoU is a significant step towards strengthening bilateral relations between Nigeria and The Gambia and will create opportunities for the two countries to collaborate in the oil and gas sector.
As part of the exploration activities, geological and geophysical studies will be conducted, and seismic data will be acquired and analyzed.
The NNPCL will also work with the GNPC to identify potential exploration blocks and carry out drilling activities in the country.
The Gambian Minister of Petroleum and Energy, Fafa Sanyang, hailed the collaboration, describing it as a major milestone for the country’s oil and gas industry.
For the NNPCL, the agreement represents another effort to expand its operations beyond Nigeria and tap into the vast oil and gas reserves in other African countries.
The company has been involved in similar initiatives in recent years, including exploration projects in Niger, Chad, and Benin Republic.
