(Ecofin Agency) – BW Energy, Panoro Engery and Vaalco Energy, the oil companies awarded the two permits, will invest nearly $100 million in the development of these blocks. For 2025, Gabon expects overall production of 11.1 million tonnes of crude.
The Panoro – Vaalco – BW consortium obtained exploration licenses for the Guduma and Niosi oil blocks in Gabonese waters at the end of October. The marine blocks held respectively at 25%, 37.5% and 37.5% by the 3 companies cover a total area of 4918 km².
Under the two contracts signed with Marcel Abéké, the Minister of Oil, they have committed to investing nearly 100 million USD (around 60 billion FCFA) over 8 years where they will share the production, specifies New Gabon.
On the Niosi block, the first investment phase planned over 5 years will consist of research with analysis of 1,000 km² of seismic data, while the second planned over 3 years will consist of drilling a firm exploration well. On Guduma, 3 years of in-depth geophysical and geological studies are planned, with a 1is drilling, then a 2nd over the next 2 years.
“Most of the Niosi Marin and Guduma Marin acreage are within reasonable distance of existing infrastructure, allowing for rapid, low-cost development of future discoveries. We have demonstrated our ability to create significant value in the Dussafu license, where we are completing the 1era Hibiscus/Ruche phase to increase production to a nominal capacity of 40,000 barrels per day » commented BW Energy CEO Carl K. Arnet.
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