6.250
%
Neutral
66
mm boe
93
%
Brice Oligui Nguema's election in April 2025 regularised the post-coup government, and the country remains open to HC investment, with Gabon Oil Company expanding through acquisitions. However, fiscal strain, arrears and resource nationalism are rising. Outlook maintained because openness to investment balances fiscal and nationalist pressures. Outlook: Neutral. Risk premia unchanged at 6.25%.
October 7, 2026
Africa - Central
mm bbl
bcf
Central Africa, bordering the Atlantic Ocean at the Equator, between Republic of the Congo and Equatorial Guinea.
Multiple (PSC/Concession)
Both concession and production sharing ("PSC") fiscal terms exist in Gabon. Older fields (pre-1977) operate under the terms of a concession agreement whereby only royalty and corporation tax are paid; these terms are still valid where those fields are still producing. However, recent and future awards are taxed under PSC terms, first introduced in 1977. Incentives for deep-water developments exist through higher cost recovery ceilings and profit oil splits.
General Brice Oligui Nguema led the 2023 coup and won the April 2025 presidential election, formalising military-backed rule under a new constitution. US and UK guidance cite tight fiscal liquidity, arrears, corruption and resource nationalism, including the state's 2024 acquisition of Assala Energy's assets. The EIA notes mature, declining oil production of around 200,000 b/d led by Perenco. The government is promoting offshore licensing rounds to attract fresh investment.
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
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