Gabonese Petroleum Minister promotes 35 exploration blocks in the U.S.

Vincent de Paul Massassa (photo), the Gabonese Minister of Petroleum met with American investors last week at the University of Houston in Texas, to present to them the opportunities that the Gabonese sedimentary basin offers in terms of ‘investments. This initiative is part of efforts to promote open 35 oil blocks to the market in the 12 th round of granting oil licenses.

The manager notably provided details on the methods of acquiring the blocks, their characteristics, as well as obtaining free seismic data produced by the French geophysicist CGG.

Mr. Massassa relied on the latest innovations in the petroleum code to reassure assistance on the advantages offered by investments in the sector, mainly with regard to taxation and the legal framework of new petroleum agreements.

Gabon relies heavily on this cycle of licenses to attract major players in its petroleum sector in order to increase production and thus stimulate economic growth.

 

Source: Agence Ecofin

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