PetroNor E&P has set out plans to withdraw from its exploration license for Block A4 offshore Gambia after the initial exploration phase expired in mid-November.
The company said it had been in discussions with the Gambian government on future options for the license following the expiry of the initial term, and has now confirmed it will relinquish its rights to the block.
“The company would like to thank the Ministry of Petroleum and Energy, the Petroleum Commission, and its partner, GNPC, for their support and close collaboration over the past years of the licence term,” PetroNor E&P said.
Block A4, reinstated to PetroNor in the second half of 2020, lies within the same play trend as Senegal’s offshore basins and the Sangomar field, which is expected to extend southward into Gambian waters.
PetroNor held a 90% interest, with the remaining 10% owned by the Government of Gambia.
The company earlier noted in its third-quarter results that the initial exploration phase had ended and that no further commitments were in place beyond discussions on potential next steps.
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