Gabon expects to sign production-sharing contracts with oil majors BP and Exxon Mobil within the next four to six months, its oil and gas minister Clotaire Kondja said, signalling renewed momentum in the country’s upstream sector. The announcement was made in April 2026 during an African energy conference in Paris, as reported by Reuters.
The planned agreements follow earlier non-binding deals signed in 2025, under which both companies agreed to explore offshore blocks along Gabon’s Atlantic coast. These developments are part of a broader strategy to revive exploration and attract major international players to the country’s largely underexplored deepwater basins.
Gabon, a member of OPEC, is seeking to strengthen oil output and expand its resource base as global demand for hydrocarbons remains resilient. Officials say securing production-sharing contracts will be a critical step toward unlocking new reserves and increasing long-term production capacity.
The move highlights intensifying competition among global energy firms for African offshore assets, with West Africa emerging as a key frontier for new discoveries. If finalised, the BP and Exxon deals could reinforce Gabon’s position as a growing investment destination in the global oil and gas landscape while supporting its broader economic development strategy.
