• About 70% of offshore acreage remains untapped amid declining output
• New licensing rounds planned for 2026 to attract further investment
  

Gabon is moving ahead with its deepwater expansion strategy through new partnerships with two international oil majors. Within a week, the country signed two memorandums of understanding aimed at boosting offshore exploration.

The most recent, announced on Thursday, October 30, 2025, by the Africa Energy Chamber, involves an agreement between Gabon’s Ministry of Petroleum, Gas and Mines and British energy giant BP for exploration in deepwater and ultra-deepwater blocks.

A few days earlier, on Wednesday, October 22, international media reported a separate non-binding memorandum of understanding with U.S.-based ExxonMobil focused on identifying additional offshore prospects.

These agreements build on ongoing activity by existing operators in Gabon, including Perenco, Assala Energy, and VAALCO Energy, as part of a national strategy to modernize the oil sector and replenish hydrocarbon reserves.

Official data show that about 70% of Gabon’s offshore acreage remains unexplored, underscoring the scale of untapped oil and gas potential in the Central African nation. Authorities are seeking partners with advanced technology to develop deepwater resources.

Gabon’s oil production, estimated at around 204,000 barrels per day in 2023 according to data from TheGlobalEconomy.com, has been declining in recent years due to the depletion of mature fields. The government now views deepwater exploration as a key driver of future growth.

By partnering with BP and ExxonMobil, Gabon is strengthening its international visibility and advancing its plan to open more deepwater acreage. The government said it is preparing new offshore licensing rounds for 2026 to attract further investment in unexplored zones.

Abdel-Latif Boureima