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Gambia, US-based firm seal oil deal

The Gambia and an American-based firm have sealed a deal over petroleum exploration and production in the West African nation, PANA reports from here Monday.

According to official sources, the firm, Camac Energy Limited, signed production agreement for two offshore blocks with the Gambian government.

The pro-government Daily Observer newspaper quoted the Gambian President Yahya Jammeh, as commending the company for choosing to invest in his country.

He was also said to have stressed the need for trust, honesty and transparency between the two sides.

President Jammeh explained the important relationship between energy and development, saying “For us to ensure development, we should have reliable and affordable energy. In eradicating poverty, reliable and affordable energy is indispensable.”

Responding, Dr. Kase Lawal, the CEO and Chairman of the company, hailed the Gambian leader for his sense of vision and support.

He recalled the hospitality and encouragement the Gambian leader accorded them during their first trip to the West African nation.

He pointed out that President Jammeh further encouraged them ”to look around and see other areas to invest and we did mention the area of power.”

The CEO also said that under the partnership with the Gambia, they would explore into skill development.

“We will train Gambians as we have confidence, expertise and knowledge in training the people of African countries where we do businesses.

”We have always believed that doing well and doing good business is being a good steward, a good neighbour and a good partner,” Dr. Lawal added.

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