Gabon Overview
- Output averaged 220,000 b/d in 2019
- Upstream landscape has transformed with majors exiting / rationalizing
- New operators are focusing on field redevelopment and near field exploration in the shallow water and onshore
- Infrastructure - including an extensive pipeline network, the Cap Lopez and Gamba terminals - is well developed and provides reliable export routes
- New deepwater offshore round launched January 2019 offering 35 blocks. Petronas awarded two licenses in August 2019
- New hydrocarbon code passed by Parliament in July 2019 with intention of attracting new investment. Highlights include reducing corporate tax from 35% to zero, adjusting royalties to suit acreage characteristics and exploitation periods for oil initially set at 15 years with renewals of 8 and 7 years