Gabon: Strategic acquisition of 15% of the Baudroie field by the Gabon Oil Company
Objective: To strengthen the presence of the State in the oil sector
As part of its policy to strengthen public management of the oil industry, the Gabon Oil Company (GOC), a state entity responsible for oil assets, has acquired 15% of the shares in the Baudroie field, previously held by the French company TotalEnergies. This transfer, signed on October 18, is part of the Gabonese authorities’ strategy to increase national production and strengthen state influence in the sector.
Increase in national production
This acquisition is expected to enable GOC to increase its production by 500 to 1,000 barrels per day, representing a monthly contribution of 15,000 to 30,000 barrels and, over a year, an additional 180,000 to 360,000 barrels. This is in addition to the 45,000 barrels per day from the recently acquired assets of Assala Energy Gabon and the 200,000 barrels per year that the company was already recording.
Foreign Asset Takeover Strategy
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Gabon, in its approach of gradual recovery of foreign shares, has already bought the local assets of companies such as Assala Energy and Addax Petroleum Oil & Gabon, a subsidiary of Sinopec. Marcelin Simba Ngabi, Managing Director of GOC, indicated that the company continues to develop its portfolio, aiming at the direct operation of its assets or the acquisition of new stakes. This strategy allows Gabon to further extend its share in foreign-owned companies operating on its territory.
Outlook for 2025: targeted national production
According to the 2025 Finance Bill validated by the government, Gabon expects oil production of 11.1 million tonnes, a slight decrease of 2.1% compared to the previous year. This bill, submitted to Parliament for adoption, reflects Gabon’s ambition to maintain and stabilize its energy sector by intensifying state participation in oil exploitation.
Conclusion
This acquisition of shares in the Baudroie field by the Gabon Oil Company marks a significant step in Gabon’s economic sovereignty policy. By increasing its production capacity and taking control of international assets, Gabon is striving to secure its energy future and maximize national economic benefits in a key sector.
