According to RFI, in an article carried by AllAfrica, US oil company ExxonMobil announced on 22 October 2025 the signing of a memorandum of understanding with the Gabonese government. The aim is to explore oil and gas resources in deep and ultra-deep waters off the country's coast. On this occasion, Petroleum Minister Sosthène Nguema Nguema stressed his wish for a competitive, attractive and responsible sector.
According to the article, oil remains the largest contributor to Gabon's gross domestic product, but its share of GDP has fallen sharply because of eroding output and fluctuating crude prices. The authorities are seeking to curb the decline in national production and bring more foreign currency into state coffers.
The article quotes Charles Thiemele, Africa business development director at AOT Trading, who says fields operated for several decades are clearly ageing and very mature. He estimates that, from discovery to first production, lead times are 18 to 24 months in the best cases, otherwise 24 to 36 months, and that production could start in roughly two years.
