
Gabon Oil Company to Acquire Tullow’s Gabon Assets for $300M
The companies have signed a binding Heads of Terms agreement covering Tullow Oil’s complete asset portfolio in Gabon.
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The companies have signed a binding Heads of Terms agreement covering Tullow Oil’s complete asset portfolio in Gabon.
The discovery is potentially the largest to date on the Dussafu license, offshore Gabon.
The Owendo power plant, VAALCO’s production expansion and the commissioning of Karpower’s floating plants are positioning Gabon as an emerging gas-to-power leader, creating extensive opportunities for investors and service companies to explore at the upcoming Invest in African Energy Forum in Paris.
Gabon Oil Company’s CEO, Marcellin Simba Ngabi, will participate at the Congo Energy & Investment Forum in March 2025, outlining Gabon’s ambitious production growth plans and the critical role of regional collaboration.
Ministers from Mauritania, Senegal and Gabon will showcase their nations’ energy growth strategies at the Invest in African Energy 2025 Forum in Paris, focusing on unlocking private capital for transformative energy projects across the continent.
The contracts were signed in partnership with Panoro Energy and VAALCO Energy.
BW Energy holds a 73.5% interest in the Dussafu Marin Permit offshore Gabon, while Panoro Energy holds a 17.5% participating interest.
Gabon’s oil and gas resurgence is being driven by a recent offshore discovery, production increases from existing assets and an ambitious Gas Master Plan.
The reserve estimate increase by BW Energy comes after a recent oil discovery in the northern section of the Hibiscus field in Gabon.
Under the exclusive agreement, Premier Invest will finance Gabon Oil Company’s acquisition of Gabonese assets from U.S. firm Carlyle.