A new update on the ongoing struggle over African Petroleum’s rights to two blocks in Gambia has been issued by the company. African Petroleum said further to its announcement issued on August 21, management confirms that it has not received any feedback, formal or otherwise, from the government despite its best efforts to engage in dialogue with the relevant authorities.
The company said that as a result, it is preparing to formally commence arbitration for its rights to Blocks A1 and A4 in Gambia.
Commenting on the update, CEO Jens Pace said: “It is a matter of regret that it has come to this; however, we are confident in our legal position and have made great efforts to proactively engage in sensible dialogue with the relevant authorities. Previous assurances that we would receive feedback during the month of August do not seem to have been followed up. We now believe that in order to protect our historical investment, we have no choice but to take this case to arbitration. We remain open to progressive dialogue and sensible resolutions with the Gambian authorities but must proactively seek to protect our rights through this process.”
Source: Petroleum Africa