In quest to increase its oil production and develop gas activity in Gabon, the oil company Perenco has planned to invest more than 450 million dollars (260.8 billion FCFA) in 2022.

“We have placed orders for equipment to build a butane gas plant in Batanga which will produce 15,000 tonnes of butane gas per year from the beginning of 2023,” said Adrien Broche (photo) on January 20, 2022. Managing Director of Perenco in Gabon. It was after an audience with Prime Minister Rose Christiane OssoukaRaponda.

The envelope in question will also be used for the development and modernization of the Cap Lopez oil terminal. A terminal that the Perencocompany recently bought from the French company TotalEnergies for an amount between 290 and 350 million dollars. According to the CEO of Perenco, the planned investments in this terminal in 2022 are intended to “modernize this terminal and pool the activity of storage and export of crude oil in Gabon” . The objective is to make this terminal more profitable and increase oil production in Gabon.

In Gabon, the development of gas has become a major challenge for the country. Because the demand for energy and Gabon’s commitments to environmental protection are growing stronger. Gabon plans over the next few years to further develop its gas resources and to migrate from diesel to gas for both transport and electricity.

In November 2021, Gabon signed with the Franco-British oil company Perenco, two amendments to the contract which binds them in the oil sector. Two contracts that aim to make Gabon’s gas and oil resources more profitable.

Perenco production activity in Gabon began in 1992 with the acquisition of mature fields off Port-Gentil, with 8,000 barrels of oil produced daily. 26 years later, the annual average production reached 90,000 boepd and 50 million cubic feet of natural gas in 2017. This growth was supported by the continuous development of mature fields, a balanced acquisition strategy and several exploration successes.