Gabon is finalising a deal with BP to formalise oil and gas exploration in its offshore Atlantic waters.
Gabon’s Oil and Gas Minister, Clotaire Kondja, announced on 22 April 2026 that the government expects to sign binding PSCs with BP within four to six months.
The negotiations concern offshore blocks in deep and ultra-deep waters, which are largely underexplored.
These contracts will convert non-binding preliminary agreements—Memorandums of Understanding (MoUs) signed in October 2025—into formal exploration commitments.
ExxonMobil is also involved in similar negotiations for offshore acreage under a near-identical timeline.
Strategic Context
BP is moving into West African waters to replenish its resource base as existing mature fields in Gabon face declining output.
The deal follows Gabon’s 2019 Hydrocarbons Code reforms, which introduced more investor-friendly fiscal terms to attract international oil companies (IOCs).The broader strategy includes a new gas code and a 130-150km pipeline project targeting completion within 24 months to support domestic industrialisation.
Note by Alessandro Bazzoni