Gabon Strengthens Regional Energy Engagement with Major Reforms
Sosthène Nguema Nguema, Gabon’s Minister of Oil and Gas, has confirmed his participation as a speaker at the upcoming Libya Energy & Economic Summit 2026, taking place in Tripoli from January 24-26. The announcement highlights Gabon’s ongoing efforts to attract international investment and advance strategic reforms in its oil and gas sector. Minister Nguema, who assumed office in May 2025, has led a comprehensive modernization of Gabon’s hydrocarbons framework. Under his leadership, the government is replacing the 2019 Hydrocarbons Code with separate oil and gas codes, aiming to enhance transparency, improve fiscal terms and provide legal clarity for investors. These reforms are designed to unlock Gabon’s deepwater and ultra-deepwater reserves, an underdeveloped segment of the country’s energy portfolio. Gabon currently produces approximately 200,000-228,000 barrels per day of crude, with proven oil reserves estimated at 2 billion barrels and natural gas reserves at 26 billion cubic meters.
In 2025, the country has seen major international re-entries, with bp and ExxonMobil signing memorandums of understanding to explore offshore oil and gas blocks. The state-owned Gabon Oil Company has also expanded rapidly through strategic acquisitions, including Tullow Oil’s Gabonese assets and Assala Energy, raising national production to nearly 50,000 barrels per day under its portfolio. Key gas projects under development include the Cap Lopez LNG Terminal, a $2 billion investment by Perenco featuring a floating LNG unit slated to begin production in 2026, and the Port-Gentil LNG facility, a $983 million joint venture with GOC.
Source: worldoil.com
