Gabon has launched a new phase in the development of its oil and gas sector with the official start of a deepwater exploration campaign, aimed at attracting international investment and reviving national production.
Led by Minister of Petroleum and Gas, Sosthène Nguema Nguema, the campaign targets the country’s largely untapped sedimentary basin, 72% of which remains unexplored.
Gabon also plans to enhance its competitiveness by modernising its hydrocarbons code, offering more attractive conditions to foreign companies in a highly competitive global offshore market.
The African Energy Chamber (AEC) welcomed this strategic move, noting its potential to transform Gabon’s energy industry.
“The government has clearly expressed its ambition to reposition Gabon as a major energy hub in Central Africa,” said Verner Ayukegba, AEC Executive Vice President, who projected the country’s output could reach nearly one million barrels per day.
Several international companies are already operating in Gabon.
In 2024, BW Energy signed exploration contracts for the Niosi Marin and Guduma Marin blocks, including drilling and a 3D seismic survey.
The company also holds stakes in the Dussafu license alongside Gabon Oil Company and Panoro Energy.
Meanwhile, Perenco continues its drilling operations and is developing the Cap Lopez LNG terminal, scheduled to be operational in 2026.
The $2 billion project includes a floating liquefied natural gas (FLNG) unit to monetise offshore gas and reduce flaring.
Gabon also plans to expand the SOGARA refinery’s capacity to 1.5 million tons of crude per year, aiming for self-sufficiency in refined products by 2030.
The government also intends to increase fuel storage capacity to cover up to 90 days of national consumption as part of its energy security strategy.
Through regulatory reform and renewed investment momentum, Gabon aims to position itself as a key oil player in Africa by tapping the vast potential of its deepwater resources.
TE/sf/lb/as/APA