Gabon Oil And Gas News
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Introduction
- Oil production undergirds Gabon’s economy, accounting for 45 percent of gross domestic product (GDP) and 60 percent of government revenue, according to the World Bank.
- Aging oil fields are placing pressure on the Gabonese government to increase economic diversification efforts, as oil output has declined by about 34 percent since its peak in 1997. As a result, Gabon has dropped from being the third largest oil producer in sub-Saharan Africa to the sixth
- Current interest lies in the pre-salt areas in deep water offshore, which is very similar to the prolific Brazil fields
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page revision: 2, last edited: 25 Apr 2012 13:18