As shown in a recent well drilling campaign program, Gabon is betting on oil production up by 2.2%, according to the forecasts contained in the macroeconomic and budgetary framework document for the period 2023-2025. This production would then stand at 10.99 million tonnes against forecasts of 10.7 million metric tonnes in 2022 in the amending finance law (PLFR).

According to the macroeconomic and budgetary framework document, this increase would occur “under the effect of the commissioning of new wells” , we read in the said document.

Also, the storage capacities of these petroleum products could increase. Because, according to the same source, the Government has completed the work relating to the development of the multi-product wharf in Owendo, in the downstream oil sector. At the same time, the construction of a depot for white petroleum products (petrol, diesel, oil and Jet A1) started a few years ago is nearing completion. In addition, a project to build filling centers in the interior of the country is underway in order to improve the supply of butane gas on national territory.

The increase in the production of petroleum products planned for 2023 would have an impact on the gross domestic product (GDP), the growth rate of which would stand at 3.2% in 2023 according to the same source.

In 2021, national oil production reached 10.04 million metric tons (73.29 million barrels) down 6.7% compared to 2020. A decline which is explained by the observance of OPEC+ quotas , but also to operational contingencies (damage to electric cables supplying the Anguille and Torpille sites) and to a low level of availability of equipment (compressors, electric generators, etc.) at Total Gabon and Assala Gabon, we learn. And at the end of March 2022, the national production of crude oil stood at 2.55 million metric tons against 2.48 million tons in 2021, an increase of 2.8%. An increase is explained by the resolution of the operational problems encountered by certain operators at the end of 2021.