Canadian company ReconAfrica announced a strategic entry into Gabon’s offshore oil and gas sector by signing a production sharing contract (PSC) on the Ngulu Block, which contains the Loba oil field and several prospects. This development is significant as it adds to Gabon’s existing oil production and taps into attractive exploration and development opportunities, including near-term production potential from the Loba complex. The deal with Record Resources Inc. is seen as a way for ReconAfrica to diversify its portfolio into a producing basin and move towards becoming a full-cycle offshore exploration and production company.
