Gabon awards oil blocks

Gabon has awarded 13 oil and gas blocks to 11 companies as part of a major deepwater licensing round, which the Central African country hopes will boost oil production to 500,000 barrels per day (bpd), the oil minister said on Tuesday.

‘The government is aiming for 500,000 barrels a day of production once these blocks are operational,’ Oil Minister Etienne Ngoubou told reporters on Tuesday.
He did not give a figure for current production, although the government earlier this month gave a production forecast of nearly 230,000 bpd for 2014.

Ophir Energy was the biggest winner of the licensing round with four blocks. Exxon Mobil, Eni, Repsol and Marathon were also successful.

Source: Agency