Gabon to sign oil contracts with ExxonMobil and BP within six months
via Gabon Review2 min read
Gabon plans to finalize production sharing contracts with ExxonMobil and BP within the next six months. This strategy aims to boost investment and maintain national oil production at around 200,000 barrels per day. The Minister of Petroleum and Gas, Clotaire Kondja, announced on Wednesday, April 22, 2026, that Libreville intends to sign these production sharing contracts soon, according to Reuters. These agreements are expected to cover strategic offshore blocks, as Gabon seeks to revitalize its oil sector's attractiveness. While ExxonMobil has not confirmed the timeline, and BP has not yet responded, both groups had previously signed preliminary exploration agreements for maritime areas to expand their reserves. This initiative is part of a broader government policy to attract new international offshore investments. National production, stable at around 200,000 barrels per day in recent years, relies on modernizing mature fields and developing new offshore projects. Independent operators have been crucial to this dynamic; BW Energy increased production via the FPSO BW Adolo on the Dussafu Marin permit and announced a significant discovery on the Bourdon prospect in March 2026. Perenco remains the country's leading producer and a key player in intermediate infrastructure, particularly through the Cap Lopez terminal. Additionally, Gabon signed a one-billion-dollar contract with Trafigura in early April for the exclusive marketing of "beneficiary oil," which is the state's shar
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