Tullow Oil has declared major investment plans to inject close to 1.4 billion dollars (832 billion FCFA) in the oil exploration and production sector in Gabon. This investment will be spread over the next four years, officials of this company indicated during a recent audience with the Minister of Oil, Vincent de Paul Massassa. Tullow Oil has a particular interest in the
“Today we estimate our investment project in Gabon at 1.4 billion dollars over the next 4.5 years. Gabonese basin which remains to be explored and one of Tullow’s skills is exploration. So we came to present to the minister our interests in certain areas that seem to have potential and for which we would like to join forces to invest in exploration,” Jean-Médard Madama, regional director for Great Britain, Gabon, Mauritania. and the Ivory Coast, said.
New investments by Tullow Oil in Gabon will help increase its oil production in the country. It produces more than 13,000 barrels/day, or 8% of national production. It is now present on seven fields in production and one field in exploration, and is in partnership with Perenco and other oil companies in the country.
