Gabon is seeking fresh international investment to unlock the potential of its marginal oil fields and counter declining production from aging reservoirs.
Speaking at the Africa Energy Week session, ‘Unlocking Investment Opportunities in Gabon’s Oil & Gas Sector’, Aristide P. Nyamat Bantsiva, General Director of Upstream Oil and Gas, said the government is prioritizing revitalization of mature fields and tapping underexplored areas.
“Advances in technology have allowed us to access blocks once considered unreachable. Through technical workshops and annual statutory meetings, we monitor performance across safety, production, people, and budget,” Bantsiva said.
Gabon’s 2019 Hydrocarbon Code reforms, including flexible production sharing contracts and tax incentives, aim to stimulate exploration. The country has over 30 marginal discoveries across onshore and offshore blocks and more than two billion barrels of proven oil reserves. Yet only 27.5% of its 255,104 km² acreage is licensed, leaving nearly 185,000 km² available for investment.
The government, in partnership with operators such as Perenco, BW Energy, and state-owned Gabon Oil Company, is using enhanced oil recovery technologies and redeveloping underutilized assets to maximize output from mature fields. Officials also highlight deepwater basins as a high-potential area requiring further investment and technical expertise.
Perenco is investing $2 billion in the Cap Lopez LNG terminal, including a floating LNG vessel with 700,000 tons of LNG and 25,000 tons of LPG production capacity, alongside 137,000 cubic meters of storage. BW Energy has signed production sharing contracts for the Niosi Marin and Guduma Marin blocks, covering an eight-year exploration period with a two-year extension option.
“With established infrastructure, including over 225 km of gas pipelines, 7 million barrels of storage, and a functioning refinery system, Gabon offers a compelling opportunity for investors to shape the next chapter in Africa’s energy story,” Bantsiva concluded.
Source: African Energy Chamber / APO Group
