Country Analysis: Gabon
Gabon is the sixth-largest oil producer in Sub-Saharan Africa. Aging oil fields, coupled with the lack of major new finds, have caused oil output to decline by about one-third since its peak in 1997. However, the rate of decline has slowed in recent years, as international oil companies operating in the country invested in life-expansion projects at mature fields and brought online moderate levels of new production.
Currently, there is heightened interest in Gabon’s offshore pre-salt potential. Since 2011, there have been a few discoveries; however, appraisal and exploratory drilling will continue to determine whether field development at those sites is economically viable.
For more information on Gabon’s energy sector, visit http://www.eia.gov/countries/cab.cfm?fips=GB