Australian independent Far now fully owns two blocks offshore Gambia
Australian indie expands Gambian interests
Far is seeking new partners to advance developments
ASX-listed Far has bought out Malaysian NOC Petronas’ remaining stakes in two blocks offshore Gambia. Far held 50pc of blocks A2 and A5, with Petronas’ PC Gambia subsidiary owning the rest. The Australian independent now owns 100pc of both Gambian blocks. However, development may still be some way off. Far is looking for new partners to farm-in to the project and help fund the future exploration programme. With government approval, and with “certain conditions”, “incoming participants in the joint venture may assume operatorship”, Far says. And the next two-year license term for the blocks is due to start on 1 October, but Far is no longer obliged to drill an exploration well during that per
Also in this section
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
