Positive signs require confirmation: Gabon 2018 research trip takeaways
Wood Mackenzie travelled to Libreville and Port-Gentil in March 2018. The mood among investors has significantly improved since last year. Higher crude prices have made investment viable again, which will help stabilise production over 200,000 b/d in the short term. The revival of exploration was also a hot topic. Petronas’ Boudji discovery – revealed while we were there – caused a stir and heightens interest in the frontier Lower Congo Basin. Negotiations on improving fiscal terms are expected to start shortly. Gas monetisation and high operating costs remain key concerns, but will reforms be sufficient and timely enough for Gabon to avoid a sharp decline post-2020? Click on the link to download our slide pack summary.