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 February 2025
Weighed down by higher costs and lower margins, the US downstream sector is facing closures that could shrink capacity
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
