I encourage coleagues to share the Mines & Quarries Act of 2005. Thanx in
advance. Haruna.
BUDGET SPEECH 2007
PROGRAMME BASED BUDGETING FOR EFFICIENT RESOURCE ALLOCATION AND USE WITH A
POVERTY REDUCTION DIMENSION
Madam Speaker,
Let me now Discuss Government's Development Strategy for 2007 as it relates
to the key Sectors of the Economy
The Extractive Industry
1. The exploration for oil, gas and other minerals in The Gambia has now
been given greater attention. The Gambia National Petroleum Company (GNPC)
is vigorously engaged in promoting Gambia 's oil potentials to both national
and international oil companies. As a result, many oil companies have shown
keen interest in investing in the offshore acreages.
2. On the 8th September 2006, Gambia Government issued two oil
exploration, development and production licences to a Canadian international oil
company, Buried Hill Energy (BHE). The licences cover two of the six offshore
Blocks (Blocks A1 and A4). BHE has already started mobilizing, and soon the
Company will start detailed exploration and drilling as prescribed in the
Licences.
3. During the course of 2007, Government will continue to promote the
remaining offshore blocks, as well as the onshore areas. Already, a number of
Companies have registered interest, and are preparing proposals for
submission to Government for the remaining 4 offshore blocks. In 2007, Government will
also be embarking on an onshore geophysical data acquisition programme. This
exercise, when completed, will increase and enhance the onshore data package
necessary for attracting investment in the onshore oil and gas potentials.
4. For the downstream side, the Gambia National Petroleum Company, as
part of its business development strategy, will be actively involved in the
distribution of petroleum products. The company will build service stations,
initially within the Greater Banjul Area, and later expand to the Provinces.
5. For petroleum administration and technical skills development,
Government has already started building the capacity of GNPC, Office of the
Commissioner of Petroleum, and the Geology Department. Twenty five young Gambian
students are currently undergoing training, at undergraduate level, in
petroleum engineering and relevant fields. Two more Gambians are undergoing post
graduate degree training in petroleum engineering and geophysics in The United
States and Thailand respectively. There are plans to train more Gambians in
geology, geophysics and petroleum related fields.
6. A number of bilateral agreements are being negotiated with petroleum
exporting countries. These agreements are intended to help The Gambia build
its capacity in the area of petroleum exploration and development, as well as
in contract negotiations. Already, Government is collaborating with the
Chinese Petroleum Company (CPC) through the provision of experts to help
establish the petroleum sector of The Gambia.
7. Government has also been active in the areas of heavy mineral sand,
such as ilmenite, rutile, zircon exploitation and monitoring, and the
supervision of quarrying operations. Following the completion of prospecting
operations, and successful mining trials in the Brufut and Sanyang mineral sand
deposits, Carnegie Minerals ( Gambia ) Ltd submitted an application for a mining
license to exploit the mineral sand deposit within the coastal strip of
Batokunku, Sanyang and Kartong. After assessment of the Economic, Legal and
Environmental aspects of the proposed mining project, Government has granted a
Mining License to Carnegie Minerals ( Gambia ) Ltd in accordance with the
provisions of the Mines & Quarries Act, 2005.
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