Gabon is seeking renewed international investment in its oil and gas sector to offset falling output from aging fields, highlighting opportunities in marginal discoveries and new exploration blocks.
Aristide P. Nyamat Bantsiva, General Director of Upstream Oil and Gas, told delegates at Africa Energy Week in Cape Town that the government is prioritizing revitalization of mature reservoirs while pushing development of untapped onshore and offshore assets.
“Technology has allowed us to revisit blocks once thought inaccessible. We are working closely with partners to enhance recovery and monitor performance in safety, production and efficiency,” Bantsiva said.
The 2019 Hydrocarbon Code, which introduced flexible production-sharing contracts and tax incentives, underpins Gabon’s strategy to attract capital. The country holds more than two billion barrels of proven oil reserves, yet only 27.5% of its acreage is licensed, leaving nearly 185,000 square kilometers open for new entrants.
International operators are already expanding their presence. Perenco is investing $2 billion in the Cap Lopez LNG terminal, including a floating vessel with capacity for 700,000 tons of LNG annually. BW Energy signed production sharing contracts in 2024 for the Niosi Marin and Guduma Marin blocks, with an exploration period of up to 10 years.
The government is also leveraging partnerships with Perenco, BW Energy and the state-owned Gabon Oil Company to boost output through enhanced recovery technologies. Bantsiva noted that tapping deepwater basins would require additional technical expertise and financial commitments.
With established infrastructure including more than 225 kilometers of pipelines, 7 million barrels of storage, and a refinery system, officials say Gabon offers a competitive investment environment.
“Our oil basin is rich in history and ripe for innovation. This is the moment for investors to be part of Gabon’s next energy chapter,” Bantsiva said.
