The key issue: Gabon’s lawmakers approved a comprehensive new petroleum code on 26 February. The legislation aims to monetise the country’s gas resources for the first time.
Gabon’s new petroleum code includes revisions to production-sharing contracts and – for the first time – delineates specific fiscal terms for gas developments. Gabonese Petroleum Minister Pascal Houangni Ambouroue has said he believes the changes will greatly enhance “flexibility” for IOCs, allowing them to operate in different price environments.
However, the new code comes up short on rules governing...
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