Gambia announces big oil finds onshore and offshore
BLACK GOLD: The tiny nation, one of the poorest in the world, expects to
start experimenting soon at some of the discovered sites, the president says

REUTERS , BANJUL, GAMBIA
Sunday, Feb 15, 2004,Page 11
A recent study has found oil in Gambia and the tiny, impoverished West
African state could soon become rich, President Yahya Jammeh said.
"I am pleased to announce that oil has been discovered in the Gambia,"
Jammeh said in a televised address to the nation late on Friday.
"The results of our findings are very promising. We have discovered oil both
onshore and offshore. The country will be a rich nation soon," he said.
Jammeh did not say which companies may be involved in the discovery, nor who
had conducted the study.
"Before the end of the year we will start experimenting at some of the
discovered sites," he said.
With an annual per capita income of US$340, Gambia -- a sliver of land
almost entirely surrounded by Senegal -- is one of the world's poorest
countries. The former British colony's 1.25 million people survive on
tourism, fishing and groundnuts.
Recent oil discoveries off the West African coast have led analysts to
predict that the region will become an increasingly important supplier of
oil, as the US seeks to reduce its heavy dependence on supplies from the
turbulent Middle East.
Nearby Mauritania, which is separated from Gambia by Senegal, is hoping to
start exporting oil towards the end of next year.
Jammeh said he wanted to rid his country of corruption in order to make good
use of the hoped-for new oil wealth and told Gambians they should keep
tending to their businesses as usual and not start dreaming about possible
oil riches.
"You should not sit and fold your hands and say you are waiting for the oil.
Don't say oil has been discovered in the Gambia and you will stop whatever
work you have been doing. Farming and other working activities should
continue," he said.

Copyright © 1999-2004 The Taipei Times. All rights reserved.


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