Gabonese incentives reform pays off
An enhanced regulatory and fiscal framework appears to be attracting IOC and NOC exploration interest
Newly appointed Gabonese hydrocarbons minister Noel Mboumba will point to evidence that the recent petroleum code overhaul is rebuilding investor confidence when he embarks on a promotional drive. Houston-based West African producer Vaalco said in late August that it was expecting delivery in early September of a jack-up rig to commence a its 2019-20 drilling campaign. The firm plans to drill first an appraisal well, followed by a development well, at its Etame field, promising a further appraisal well and up to two more development wells later this year and early next. The firm also extended its lease contract for its Gabonese floating, production, storage and offloading (FPSO) vessel to S
Also in this section
7 May 2024
Ample stocks and a soft demand outlook will limit how much LNG Europe can import this year
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well