• Gabon signs offshore oil deal granting GOC control of Konzi, Ayol blocks
• Move boosts state role amid 4% output drop in early 2025
• Oil key to economy, with new efforts to revive production, attract investment

Gabon has signed an offshore exploration and production-sharing agreement with state oil firm Gabon Oil Corporation (GOC) for the Konzi and Ayol blocks, local media report. The deal was concluded in Libreville on October 30, 2025. According to the reports, it was signed by Petroleum and Gas Minister Sosthène Nguema Nguema and GOC Managing Director Marcellin Simba Ngabi.

The agreement grants GOC direct control of the two offshore assets, less than three weeks after it secured the Dinonga-Irondou permit on October 10. The move underscores the government’s push to strengthen the national oil company’s position in the sector. The petroleum ministry said the new contracts reflect the government’s goal of placing national value creation at the center of Gabon’s oil industry.

The deals come as Gabon’s crude output declined to 2.873 million tonnes, or about 20.9 million barrels, in the first quarter of 2025 from 2.995 million tonnes (21.9 million barrels) a year earlier, a drop of roughly 4%, according to the same reports. The government’s strategy aims to stabilize production while expanding public control over strategic resources as part of a broader national energy sovereignty plan.

Oil remains a cornerstone of Gabon’s economy. World Bank data show the sector accounted for between 23% and 24.2% of GDP in 2023, while petroleum revenues made up about 10.5% of total public income. The growing prominence of GOC coincides with efforts to revive production and attract new investment. The government has signed memoranda of understanding with multinationals, including BP and ExxonMobil, to explore deepwater fields in an offshore area that officials say remains nearly 70% unexplored.

Abdel-Latif Boureima