Two African nations are set to expand their oil and lubes production activities.
The Gambian government has signed a deal with US-exploration company, Camac Energy Inc. for blocks in the country's A2 and A5 concessions after Camac beating two other competitors for the contract. The drilling and production rights are off the West African coast and will be worked in conjunction with Gambia National Petroleum Corp and the country's Oil Ministry.
The smallest of Africa's nations, Gambia is keen to earn revenues from its hydrocarbon reserves, particularly as economic growth has been stifled by recent crop failures and reduced tourist income.
Meanwhile Tanzania is set to open its first lubricants production plant in the Kamal Industrial Estate, a Special Economic Zone in Bagamoyo privately owned by the Kamal Group and the largest in the country.
The plant will be the second operation to be opened on the site, the first being a gas production facility, with the Kamal Group also set to invest around $300m in a 700,000 tonne steel plant. If plans for other manufacturing activites reach fruition, the Zone could directly employ as many as 25,000 workers.