PARIS, April 22 – Gabon is moving closer to securing major upstream investment, with plans to sign production-sharing contracts with global energy giants in the coming months.
The country expects to finalise agreements with BP and Exxon Mobil within four to six months, according to Oil and Gas Minister Clotaire Kondja, who spoke at an African energy conference in Paris.
Both companies have already signed non-binding preliminary agreements to explore offshore blocks along Gabon’s Atlantic coast, positioning themselves to expand their resource base.
The move reflects a broader trend of international oil majors returning to West Africa, attracted by underexplored offshore basins and the need to replenish reserves amid rising global energy demand.
For Gabon, a member of OPEC, the potential deals could boost production capacity, attract foreign investment and strengthen its role in regional energy markets.
While timelines remain subject to negotiations, the expected agreements signal renewed confidence in Gabon’s oil sector and highlight Africa’s continued importance in the global search for hydrocarbons.
