Can Gabon lure back investors with its new Hydrocarbon Code?

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What’s inside this report?

Gabon released its new Hydrocarbon Code in July 2019. The law sets out the legal and fiscal framework for oil and gas projects and includes incentives to tempt investors back to the country.

The last legal revision was in 2014, in the heady days of $100 oil and West African mega-projects. The government hiked its share, only to completely misread the oil price cycle. After the dust had settled from the price collapse, Gabon found itself with the toughest terms in the region and investment at a standstill.

Our insight unpacks what the new terms could mean for Gabon’s oil industry, including:

  • How does Gabon now compare with its regional peers?
  • Who might benefit from new incentives for marginal and mature fields?
  • Will these new terms be enough to bring companies back to Gabon?

This report comes with datasets and charts, including this one, which compares the terms of the new Hydrocarbon Code to the 2014 version. Scroll down for a full list of the datasets you’ll get with our report.


26 August 2019

Can Gabon lure back investors with its new Hydrocarbon Code?

Report summary

Gabon published a new Hydrocarbon Code in July 2019. The new law offers lower royalties and taxes, the country's first gas terms and greater flexibility, all designed to tempt back investors. In this Insight, we describe the key fiscal changes and new regulations, and analyse how Gabon now compares with its neighbors in the region. With a bid round already open, will these incentives be enough to bring companies back to Gabon?

Table of contents

  • Executive Summary
  • A long-awaited revision
  • More flexibility is a response to a changing industry
    • Gas terms could unlock stranded potential
    • Incentives for marginal fields are aimed at local companies and established players
    • Local content provisions now come with incentives
    • Environmental regulations will pose a greater administrative burden
    • New sanctions come with heftier penalties
  • The Central African Elephant in the room
  • Positive signs already

Tables and charts

This report includes 5 images and tables including:

  • Gabon production and capex
  • Comparison of State Share
  • Split of the barrel, 2019, 2014 and pre-2014 terms
  • State profit share sensitivity
  • Comparison of 2014 and 2019 fiscal terms

What's included

This report contains:

  • Document

    Can Gabon lure back investors with its new Hydrocarbon Code?

    PDF 818.73 KB

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