Gabon is intensifying efforts to attract international investment to its oil and gas industry, aiming to revitalize production from aging fields while exploring untapped resources.

At the “Unlocking Investment Opportunities in Gabon’s Oil & Gas Sector” session during Africa Energy Week, Aristide P. Nyamat Bantsiva, General Director of Upstream Oil and Gas, emphasized the country’s push to unlock marginal oil fields. Gabon hopes these underdeveloped blocks can sustain production growth and strengthen the national economy.

Since reforms to the 2019 Hydrocarbon Code, including more flexible production-sharing contracts and tax incentives, Gabon has positioned itself as an attractive destination for exploration. The country boasts over 30 marginal discoveries across both onshore and offshore blocks, while roughly 185,000 km² of its total 255,104 km² oil acreage remains unlicensed.

“Advances in technology are opening new areas that were previously inaccessible,” Bantsiva said. “Through workshops and regular evaluations, we’re ensuring that production, safety, personnel, and budgets are all optimized.”

Gabon currently holds more than two billion barrels of proven oil reserves along with significant gas potential. The government is collaborating with operators like Perenco, BW Energy, and state-owned Gabon Oil Company to deploy enhanced oil recovery methods and develop underutilized assets. Deepwater exploration, however, will require additional investment and technical expertise.

Independent energy company Perenco is investing $2 billion in the Cap Lopez LNG terminal, which will feature a floating LNG vessel capable of producing 700,000 tons of LNG and 25,000 tons of LPG, supported by 137,000 cubic meters of storage. BW Energy has also signed production-sharing agreements for the Niosi Marin and Guduma Marin blocks, covering an eight-year exploration period with an option to extend for two years.

With over 225 km of existing gas pipelines, 7 million barrels of storage, and a functional refinery system, Gabon presents a promising opportunity for investors seeking to participate in Africa’s energy expansion. Bantsiva concluded, “Our oil basins have a storied history and are now ready for innovation and growth.”