Given Gabon’s background, it is no surprise that much of the country’s upstream efforts are being focused on the redevelopment of mature or marginal oil fields. Prioritizing short-cycle developments generate cash flow at lower cost by utilizing existing discoveries and infrastructure, which can bring production online within a few years.
How much oil will Gabonese produce in 2023?
In 2019, the Gabonese government had set an ambitious target of 220,000 bpd of crude oil production by 2023. Although that target was missed, production in April stood at 200,000 bpd, up from 180,000 in 2020.
How many hectares of Savannah has Olam palm Gabon planted?
Olam Palm Gabon has planted 56,000 hectares (ha) to date, of which 47% was secondary, degraded or previously logged forest, and the balance was savannah. We are conserving an even bigger land area of High Conservation Value area (72,000 ha) within our concessions.
Is Gabonese a oil-rich country?
Available in French. Even among oil-rich nations, the extent to which hydrocarbons has fueled the Gabonese economy throughout its independent history is exceptional. Since production started in the 1950s, the majority of the country’s GDP has been derived from crude oil exports.