ExxonMobil has signed an exploration and production sharing contract (EPSC) with the Government of Gabon, marking the company’s return to the country’s upstream oil and gas sector. The agreement underscores ExxonMobil’s continued commitment to responsible energy development and investment in Africa.

Under the terms of the contract, ExxonMobil will explore offshore blocks located in Gabon’s deepwater basin, one of West Africa’s most promising frontier regions. The exploration program will include advanced seismic studies and the potential for exploratory drilling to evaluate the resource potential of the area.

The Government of Gabon welcomed the agreement as a significant step toward revitalizing the nation’s oil and gas industry and attracting new international investment.

Current oil and gas activity in Gabon

Gabon’s crude-oil production has been holding fairly steady in recent years at around 215,000 barrels per day in the first eight months of 2025, up slightly from 212,000 b/d in 2024 and 214,000 b/d in 2023. Despite this, major fields are mature and output remains well below the zenith of roughly 370,000 b/d in the late 1990s.

To arrest the decline and unlock new reserves, the government has embarked on an active push into deep-water exploration. Some 72% of Gabon’s deep-water acreage is still unexplored, and the authorities are updating petroleum legislation and offering fresh incentives to attract investment into deep-water oil and gas.

Gabon is seeking to diversify and monetise associated and offshore gas reserves. A flagship project led by Perenco is the planned FLNG (floating LNG) facility at the existing Cap Lopéz oil terminal, with capacity around 700,000 tonnes of LNG plus 25,000 tonnes of LPG and 137,000 m³ of storage, targeting first output in 2026.

A major oil discovery was announced offshore in the “Dussafu Marin” permit area by Panoro Energy, which reported around 34 metres of net oil pay in the Gamba reservoir. Meanwhile, production from that area reached about 40,000 barrels per day (gross) as of late 2024.

The national oil company Gabon Oil Company (GOC) has also taken a more active role in the sector, acquiring legacy assets (such as those of Assala Energy) to increase the state's footprint in upstream operations.

KeyFacts Energy: ExxonMobil Gabon country profile