BP to explore for oil and gas offshore Gabon

LIBREVILLE, October 31, 2025 – BP has signed an MoU with the government of Gabon to explore for oil and gas offshore the Central African nation, Reuters reported on Thursday, citing a company spokesperson.

The agreement marks BP’s entry into Gabon’s upstream sector, where international players such as Perenco, Assala Energy and Maurel & Prom have traditionally dominated.

Gabon’s oil and gas sector, historically led by French and independent operators, now offers fresh opportunities under the government’s push to revitalise exploration and attract new international investment.

Last week, ExxonMobil announced it had signed an agreement to explore for oil offshore the Central African country.

In Africa, BP has operations in Angola, Egypt, Mauritania and Senegal, primarily targeting offshore and deepwater resources. The Gabon agreement expands the company’s regional footprint as it looks to tap into emerging opportunities in underexplored basins.

In recent years, Gabon has been stepping up efforts to attract new oil and gas E&P investment through regulatory reform, improved fiscal terms and proactive promotion of its offshore acreage.

The 2019 Hydrocarbons Code introduced investor-friendly production-sharing contracts, while the government has streamlined licensing and pledged greater transparency. A new deepwater exploration drive is under way, targeting largely untapped frontier basins alongside initiatives to redevelop mature and marginal fields.

Authorities are also prioritising gas monetisation, limiting flaring and strengthening the local value chain.

Through platforms such as African Energy Week, the government is courting IOCs and investors with partnerships and open acreage opportunities, including deepwater zones that share geological traits with Brazil’s pre-salt plays. These moves aim to reinvigorate upstream activity and sustain Gabon’s role as a key regional producer despite global competition and the challenges of infrastructure and governance.

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