Gabon targets new BP, Exxon partnerships to boost offshore output

Gabon is stepping up efforts to revive its oil and gas sector, seeking new partnerships with global energy companies as it works to lift offshore production and attract fresh investment.

The Central African nation, a member of OPEC, is aiming to position itself as a competitive destination for offshore exploration in West Africa. 

Officials say the government is in talks to sign production-sharing contracts with BP and Exxon Mobil within the next four to six months.

The agreements, if completed, would mark a key step in efforts to raise oil output and support state revenues. 

The planned deals follow earlier non-binding agreements reached in 2025, when both companies agreed to explore offshore blocks along Gabon’s Atlantic coast.

Those areas are part of the country’s deepwater basins, which remain largely underexplored. 

Oil remains the backbone of Gabon’s economy, and authorities are under pressure to steady production as fields mature and market conditions shift.

Securing long-term investment from major oil companies is seen as critical to maintaining output and supporting public finances. 

At the same time, competition for offshore assets across West Africa is picking up, with several countries looking to draw capital into their energy sectors.

Offshore deals take shape 

The proposed contracts with BP and Exxon Mobil are expected to cover exploration and production activities in offshore blocks that have yet to be fully developed.

Industry officials say these projects could help uncover new reserves and extend Gabon’s production outlook. 

The government has said it is focused on creating stable terms for investors while ensuring the state benefits from future output.

Production-sharing agreements remain a common model across Africa’s oil sector, allowing countries to retain ownership of resources while working with international operators.

Push to attract investment 

Gabon is looking to strengthen its appeal to foreign investors as it competes with other oil-producing nations in the region.

Improving contract terms and offering access to prospective offshore acreage are part of that effort. 

Analysts say deepwater exploration in West Africa continues to draw interest due to the potential for large discoveries, even as companies remain cautious on spending.

For Gabon, securing deals with established players such as BP and Exxon Mobil could help build confidence and bring in technical expertise.

Broader economic stakes 

Energy exports account for a significant share of Gabon’s revenue, making oil sector stability a priority for policymakers.

Higher production levels could support government spending and fund infrastructure projects. 

If finalized, the agreements would not only support Gabon’s oil output but also reinforce its role in global supply, at a time when demand for hydrocarbons remains steady in many parts of the world.