1094 MINERALS YEARBOOK, 1978-79 
 
year was expected to be used locally, and the rest was planned to be exported.
SCO was owned by the Government (49%), Niger (41%), and Denmark's F.L. Smidth
& Co. A/S (10%). Construction was to be undertaken by F. L. Smidth,
with
a planned completion date of 1982. Henry Pooley Al-. kins (United Kingdom)
was selected to monitor the construction. Arrangements were made for SCO
to be financed by Denmark and Belgium-Luxembourg ($50 million) and by Nigeria
and Benin ($20 million). The Arab Bank for Economic Development in Africa
(BADEA) also contributed $8 million to the Onigbolo project. 
The Seme oilfield, discovered in 1968 by Union Oil Co. (United States), was
located 
15 kilometers offshore. Reserves estimated at 22 million barrels were planned
to be developed by Saga Petroleum (Norway) and Kvaerner Industrier A/S (Norway).
Under the operating agreement, the Government retained ownership of the crude.
The cost of 
*the project, estimated at $98 million, was to be financed by Norwegian loans
(90%) and the Benin Government (10%). Production was expected to begin in
1981, peaking at 15,000 barrels per day, which was expected to be exported.
Benin's 3-year plan (1978-81) included $215 million for a refinery, but,
in light of the fact that Benin consumes only 100,000 tons of petroleum products
per year, this project may not be of primary importance. 
 
CAPE VERDE 
 
The Republic of Cape Verde consists of 16 islands of volcanic origin, 9 of
which are inhabited by approximately 300,000 people. The islands are located
in the central Atlantic Ocean, some 620 kilometers west of Senegal on the
west coast of the African continent. The country gained independence in 1975
and was still in the process of establishing institutions and infrastructure
during 1978 and 1979. 
Cape Verde had an estimated gross national product of $179 per person during
1978. The Government's budget for the 1978 fiscal year included expenditures
of $63.5 million against revenues of $55.8 million. Foreign assistance continued
to provide the basis for the continued economic well-being of Cape Verde
during 1978 and 1979. The United States continued to be a major 
donor, followed by France, the Federal Reput~lic of Germany, the European
Economic Community, the United Kingdom, and Portñgal. Major U.S.
aid
projects to Cape Verde outside the agricultural sector were water desalination
and electrical generation plants for the island of Sal and the city of Mindelo
on the island of Sao Vicente. 
Mineral production in the form of salt accounted for 6% of the export revenues.
Production was from two solar drying pan facilities on Sal Island. Pozolana
(a volcanic rock used in cement production) production from the island of
Santo Antao was suspended during 1978 and 1979. Other mineral deposits in
Cape Verde include gypsum on the Mao Island and lime on Boa Vista Island.

 
THE GAMBIA 
 
The Gambia consists of 11,300 square kilometers of land ranging from 11 to
32 kilometers wide and extending 320 kilometers along the Gambia River into
the interior of West Africa. The population in 1978 was approximately 538,000
people and income was $292~ per person per year. 
Banjul, the capital, is located in a natural harbour on the mouth of the
Gambia River. Future development in Senegal could lead to mineral related
traffic on the river, which was navigable for 240 kilometers. A $6 million
hydroelectric powerplant was planned to be built at the mouth of the river
near Koter and was expected to be operational by 1981. The African Development
Bank granted a loan for the project. The 
Berreto Dam, which was begun in 1977, was expected to be completed by June
1980. 
During 1978-79, Chevron Overseas Petroleum Co. (United States) and the French
company, Compagnie Francaise des Petroles (CFP), obtained a 2,500-squarekilometer
offshore area that included all of the Gambia's offshore waters up to a distance
of 48 kilometers from the coast. Chevron's share in this holding was 75%,
and CFP's share was 25%. Chevron-CFP cornpleted seismic studies, and a well
drilled by the Norwegian ship Pelcrin to 3,000 meters in water 700 meters
deep was dry. The overall investment at yearend 1979 was reported to be $8
million.