Gabon Oil and Gas Exploration and Production Market Volumes and Forecast by Terrain, Assets and Major Companies, 2021-2025
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Gabon’s total gross crude oil and condensate production was valued at 182,003 barrels per day (bd) in 2020 is projected to decline at a CAGR of more than -5% by 2025. The marketed natural gas production of Gabon was valued at 49 million cubic feet per day (mmcfd) in 2020 and is expected to decline at a CAGR of more than -6% by 2025. The oil and gas industry is of prime importance for the Gabonese government and at its peak has accounted for a large portion of the government’s revenue since its inception. Gabon’s oil production peaked in 1997 however, its mature fields have been in decline ever since and are forecasted to decline through the outlook period despite upcoming drilling programs. Gabon’s production is widespread, and the majority of fields have relatively low individual levels of production. The country has no planned or announced greenfield projects to bolster its production levels, however, does have some expansion projects due to its larger developments, namely the Ruche Cluster and Etame.
Overview of Gabon total crude oil and condensate production(bd)
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What are the market dynamics of Gabon’s exploration & production sector?
GlobalData estimates that Gabon has approximately 530 million barrels of crude oil remaining reserves from the producing fields, including expansions. It is also estimated that the country has 168 billion cubic feet of natural gas remaining. In 2021, total production in Gabon is forecast to decline by 10% as compared to 2020 production levels. Production has continuously declined over the last few years due to the country’s aging fields and only relatively low levels of investment to stabilize the situation. The forecast for crude oil and condensate is a continued decline through to 2025 due to the upcoming expansions and drilling programs at Ruche Cluster (Dussafu Marin), and Etame Marin.
The largest fields in the country include Ezanga Permit, Ruche Cluster, Etame, Tchamba Complex, and the Anguille Complex respectively, and account for approximately 35% of the country’s production. Just two of these fields are planned to receive further investment (Ruche Cluster, Etame). The recently closed offshore licensing round will provide the country with the hope that further developments are to come and will be able to bolster production numbers however, it is unknown when or if this will be possible.
Gabon has seen a number of exploration wells over the past few years, the most recent of which was the DHBNM-1 well with the discovery of Hibiscus North completed on 24th August 2021. This discovery adds to the resource volume of the Dussafu Block and will likely be tied into the existing Ruche Cluster facilities to prolong production from the development. Other discoveries of note are the Ivela (Block E13) and Boudji (Block F14) fields completed in 2018 however, little progress has been made on these fields despite the appraisal well Boudji-2 having positive signs.
Despite the troubles of 2020, Gabon saw a good amount of M&A activity with four deals having been completed in the year, the largest of which was the sale of seven non-operated offshore fields and an oil terminal by TotalEnergies to Perenco International. Perenco also made a second acquisition in the year of Block DE-8 offshore Gabon from Sasol as the company seemingly plans to expand its production in the country through the use of its existing infrastructure. 2021 has seen one deal so far and Panoro Energy has completed its acquisition of a further 10% stake in the Dussafu Marin permit from Tullow Oil, bringing the company’s stake in the block to 17.5% and is consistent with company statements as they look to expand operations in Gabon and this acquisition provides significant upside potential.
What are the key categories of Gabon’s crude oil and natural gas production?
Gabon’s crude oil and condensate production is categorized by terrain into onshore, shallow water and unspecified. Gabon’s natural gas production is categorized by terrain into unspecified. Gabon’s gross crude oil and condensate production is categorized by assets including Ezanga Permit Fields, Ruche Cluster, Etame, Tchatamba Complex, Simba, and others. Ezanga Permit Fields is the leading asset followed by Ruche Cluster, Tchatamba Complex, Anguille Complex, and Etame. Gabon’s marketed natural gas production is categorized by a single group of assets the Other Fields Gabon.
Gabon exploration & production sector, by terrain
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Which are the major companies in Gabon’s exploration & production sector?
The key companies of Gabon’s crude oil and condensate production include Perenco Holdings, TotalEnergies SE, Others Ltd, Assala Energy Holdings Ltd, Tullow Oil Plc, China Petrochemical Corp, Gabonese Republic, PT Pertamina (Persero), and Others.
Gabon exploration & production sector, by key players
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Market report scope
Market Production (Year – 2020) | Crude oil and condensate production: 182,003 barrels per day (bd)
Natural gas production: 49 million cubic feet per day (mmcfd) |
Growth | Crude oil and condensate production: CAGR >-5% during 2021-2025
Natural gas production: CAGR >-6% during 2021-2025 |
Base year for estimation | 2020 |
Key categories | Onshore, shallow water, and unspecified |
Key Companies | Perenco Holdings, TotalEnergies SE, Others Ltd, Assala Energy Holdings Ltd, Tullow Oil Plc, China Petrochemical Corp, Gabonese Republic, PT Pertamina (Persero), VAALCO Energy Inc., Etablissements Maurel & Prom SA, and BW Energy Ltd. |
Scope
This report provides an overview of Gabon’s exploration & production sector. The report includes:
- Gabon’s oil and gas production outlook by assets terrain, and major companies.
- Key details of active and upcoming oil and gas assets in the country.
- Recently licensed blocks details, licensed blocks count by company, and latest discoveries.
- Latest mergers and acquisitions, and awarded contracts related to the E&P sector in the country.
Reasons to Buy
- Gain a strong understanding of Gabon’s E&P sector.
- Facilitate decision-making based on strong historical and outlook of oil and gas production data, licensed blocks details, and discoveries.
- Assess your competitor’s production outlook and licensed blocks count in the country.
- Analyze the latest M&A landscape and awarded contracts related to the country’s E&P sector.
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Frequently asked questions
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What was the crude oil and condensate production of Gabon in 2020?
Gabon’s total gross crude oil and condensate production in 2020 was valued at 182,003 barrels per day (bd).
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What is the growth rate of Gabon’s crude oil and condensate production?
Gabon’s crude oil and condensate production is expected to decline by a CAGR of more than -5% during 2021-2025.
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What was the marketed natural gas production of Gabon in 2020?
The marketed natural gas production of Gabon was valued at 49 million cubic feet per day (mmcfd) in 2020.
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What is the growth rate of Gabon’s natural gas production?
Gabon’s natural gas production is projected to decline by a CAGR of more than -6% during 2021-2025.
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Who are the major players in Gabon’s exploration & production sector?
The key companies in Gabon’s exploration & production sector include Perenco Holdings, TotalEnergies SE, Others Ltd, Assala Energy Holdings Ltd, Tullow Oil Plc, China Petrochemical Corp, Gabonese Republic, PT Pertamina (Persero), VAALCO Energy Inc., Etablissements Maurel & Prom SA, and BW Energy Ltd.
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