The A1 block offshore Gambia is available for licensing again following a $29.3-million settlement with BP for failing to meet its drilling obligations there, according to the Gambian government.
The oil major failed to drill a well before the initial exploration period expired on 29 July.
“The A1 Block will revert to the government, free of all encumbrances,” the government statement said. “With BP’s exit, the A1 Block will now be on the market for licensing.”
BP was awarded the block’s exploration rights in 2019.