PNOC keen on oil exploration prospects in Gambia

The state-owned Philippine National Oil Co. (PNOC) is taking concrete steps to push through with plans to undertake oil exploration in Gambia in West Africa, Energy Secretary Raphael Lotilla said yesterday.

"(Gambian) President Alhai Jammeh offered to the Philippines one exploration block and PNOC will prepare for the exploration work there," said Lotilla.

The Philippines’ oil exploration agreement with Gambia was an offshoot of the recently-concluded state visit of Jammeh.

Lotilla said the Philippine government, through PNOC, is not required to offer a tender for the exploration block because it was directly offered to President Arroyo during Jammeh’s state visit.

During the state visit, the two governments signed three agreements that would bolster cooperation on the economic and political fronts.

In her speech during a luncheon in honor of Jammeh last June 21, Mrs. Arroyo said the offer is very timely considering that the price of crude oil in the world market has soared to an unprecedented $59 per barrel.

"I started my conversation with His Excellency, talking about how important it is for us to address that issue because we are poor countries heavily dependent on imported oil. And His Excellency, the President, gave me a wonderful piece of good news – Gambia has just discovered oil," said Arroyo.

"And because the Philippines helped out Gambia in its earlier days struggling as a nation. Gambia will help us out this time by giving a block for exploration of our Philippine oil exploration company," added Arroyo.

The three agreements signed during Jammeh’s visit include the memorandum of understanding (MOU) for the establishment of a bilateral consultative committee between Gambia’s Department of State for Foreign Affairs and the Philippines’ Department of Foreign Affairs; MOU between the Philippine Chamber of Commerce and Industry (PCCI) and the Gambian Chamber of Commerce and Industry (GCCI); and memorandum of agreement (MOA) between SK General Enterprises Ltd. of Gambia and Century Properties Inc. and Concord International Services of the Philippines.

Jammeh is the first African president to visit the Philippines during Arroyo’s term.