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While Gabon was without a national oil company, it leased and sold blocks for petroleum development to outside interests. Addax Petroleum, a Chinese company, surrendered its lease on the marginal Remboué oil field in September 2012, and Gabon Oil took control of the block.
Does Gabon have a petroleum company?
After that, Gabon had no national petroleum company until the Gabon Oil Company was established in June 2011. The government of Gabon controls petroleum and mineral rights within the state.
Who is Perenco oil & gas Gabon?
LIBREVILLE, October 16, 2023 – Perenco has begun oil production at the offshore Hylia South West play in Gabon, the Ango-French E&P player announced on Friday. The company’s subsidiary Perenco Oil & Gas Gabon (POGG) achieved initial flows of 3,000 bopd from the Hylia South West-1 well.
How much oil does Gabon produce a day?
By the late 1990s, Gabon was producing 370,000 barrels of crude petroleum a day (bpd). Perenco, Shell, and TotalEnergies controlled 75 percent of the nation’s total oil production. Gabon Oil Company was created in 2011 by presidential decree, and became the legal owner and manager of onshore and offshore petroleum in Gabon.