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. 






**************Ideas to please picky eaters. Watch video on AOL Living.      
(http://living.aol.com/video/how-to-please-your-picky-eater/rachel-campos-duffy/
2050827?NCID=aolcmp00300000002598)

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