Oil and gas exploration has long been a cornerstone of Gabon’s economy, with the sector historically contributing significantly to the nation’s GDP. Holding substantial proven oil reserves exceeding 2 billion barrels, Gabon ranks as the eighth largest oil producer in Africa and maintains a reputation as a reliable supplier to key markets such as the United States. While the oil and gas industry has played a pivotal role in Gabon’s economic development, there is a growing recognition among leaders of the need to diversify the economy to reduce dependency on oil revenues and enhance overall economic resilience.
With annual oil exports valued at approximately $3.5 billion, Gabon’s oil and gas sector has witnessed steady growth in recent years, supported by substantial investments in midstream infrastructure. Notable projects like the Marine Terminal Transgabonais oil pipeline have bolstered export capabilities, positioning Gabon as a key player in the global energy market. However, challenges such as market volatility and the impact of the pandemic have underscored the importance of economic diversification and the need for sustainable transformation within the sector.
Looking ahead, Gabon’s updated hydrocarbon legislation aims to attract significant new investments totaling $4-5 billion between 2023-2027, with a focus on deep and ultra-deep offshore exploration to expand reserves. Projects like the Dussafu Marine Permit development operated by BW Energy are anticipated to commence operations in the coming years, contributing to the sector’s growth trajectory. Additionally, Gabon holds substantial untapped natural gas reserves estimated at 30 trillion cubic feet, presenting opportunities for monetization and commercialization that could further enhance industry revenues and diversification efforts.
As a strategic partner, Ruskin Felix Consulting (RFC) stands ready to support Gabon’s national oil company and private sector entities in navigating the evolving landscape of the oil and gas industry. RFC’s specialized expertise in upstream field optimization, midstream infrastructure evaluations, LNG market analysis, and strategic planning can assist in maximizing industry revenues and operational efficiency. Furthermore, RFC’s advisory services on local content development and skills training initiatives have the potential to create sustainable value within the country, fostering economic growth and enhancing local capabilities. With RFC’s guidance and collaborative efforts alongside policy reforms, Gabon’s oil and gas sector is well-positioned to continue driving GDP growth while embarking on a path towards economic diversification and long-term sustainability.
