The Petroleum Commission generated more than US$1 million from upstream petroleum activities in 2025, according to its 2025 Activity Report and Financial Statements presented to the Finance and Public Accounts Committee (FPAC) of the National Assembly.
The report was considered by the committee on Thursday, 16 July 2026, during its engagement with the Commission's management.
According to the report, the Commission received a total of US$1,041,922 from upstream petroleum activities during the year under review.
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The largest share of the revenue, amounting to US$751,922, came from the sale of seismic and reprocessed geological data to Woodside and Chevron. The datasets covered the JAAN 3D Blocks A1, A2, A4 and A5, the MSGBC 2018 dataset, and BP reprocessed data for Blocks A1 and A4. The payments were received on 4 and 5 March 2025.
The report further disclosed that Petronor E&P contributed US$290,000, comprising US$185,000 for training and resources and US$105,000 in surface rental fees. The payments relate to the final six months of the first phase of the initial exploration period for Block A4.
On budget implementation, the Commission said it submitted a request to the Ministry of Petroleum and Energy for the release of its approved 2025 budget of D52.319 million following the ministry's budget approval letter dated 20 January 2025.
The report stated that the Ministry subsequently disbursed D35.465 million on 24 March 2025, alongside a balance of D6.233 million carried forward from 2024.
"The total funds made available therefore represent approximately 80 percent of the approved budget allocation," the report stated.
The Commission's financial statements show total assets of D232.35 million during the reporting period. Gross income stood at D42.07 million, while total expenditure amounted to D50.78 million, resulting in a deficit for the year.
The report also highlighted the Commission's recent financial performance. In 2024, it generated US$1,097,853 in upstream petroleum revenue while strengthening financial governance through the submission of its 2023 audited financial statements to the National Assembly.
"In 2024, we solidified our financial governance through the submission of the 2023 audited financial statements to the National Assembly," the report stated.
The Commission also recalled that petroleum operators spent US$1,468,810 on upstream petroleum activities in The Gambia during 2023.
According to its 2022 report, the Commission had generated accumulated direct revenue of US$6.31 million for the Government from upstream petroleum activities, while indirect spending of US$313,927 was injected into the Gambian economy.
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The figures presented before FPAC reflect continued revenue generation from petroleum exploration activities as The Gambia seeks to develop its upstream oil and gas sector while strengthening financial accountability and oversight within the industry.
