As the drop in oil prices continues, upstream investment in Gabon has slowed as operators decrease their capital expenditure and production costs. The situation is hardly unique to Gabon, with other producers in the Gulf of Guinea, such as Nigeria and Ghana, facing similar situations. However, it comes on top of a decline in Gabon’s production...
In a global environment of low oil prices, the Emerging Gabon Strategic Plan (Plan Stratégique Gabon Emergent, PSGE) has sought to diversify the economy away from hydrocarbons since 2010. As such, over recent years the Gabonese government has increased development of the hydropower sector, as well as expanding the country’s large natural gas...
At the beginning of July 2016 Gabon rejoined the Organisation of Petroleum Exporting Countries (OPEC) after an absence of more than two decades. This comes as Gabonese authorities look for enhanced coordination with other global oil producers to alleviate some of the pressure of low energy prices and help cultivate an environment more...
The government has fixed targets of providing electricity for 85% of rural areas by 2025 and achieving universal access to electricity for its population of around 1.7m by 2035. The objectives were set out in the Policy Letter for Universal Access for Basic Services in Rural Areas, which was approved by the Council of Ministers in September 2014...
Gabon is banking on its deepwater resources to achieve its ambitious target of doubling oil production to 500,000 barrels per day (bpd) by 2025. The discoveries since mid-2013 by Total, Shell and Eni in its pre-salt formations and those by its neighbours in the Gulf of Guinea have raised hopes that its offshore resources mirror those of Brazil,...
Oil remains the lifeblood of Gabon’s economy, representing half of state revenues and around 80% of its export earnings in 2014. The country benefits from relatively light, sweet crude from accessible onshore deposits, and has potential in deep offshore blocks. However, the absence of any major new oil discoveries, declining production at mature...
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