Exploration & Production

Gabon launches licensing round amid African flurry

Gabon is set to launch a new offshore oil and gas licensing round this year.
By Staff reporter 7 November 2018 0 33212

Gabon is set to launch a new offshore oil and gas licensing round this year, Reuters quoted Pascal Ambouroue, the country’s oil minister, as saying on Wednesday.

Gabon is putting 35 blocks up for auction and also intends to finalise changes to its hydrocarbons code before the end of 2018.

The code is being overhauled to stimulate investment, with royalties on production expected to be 5% for oil and 2% for gas.

The news comes as Madagascar and Congo-Brazzaville...