Gabon Oil Company (GOC) has signed a 6-month agreement with banking firm Premier Invest to raise $1.2 billion to acquire Gabonese oil producer Assala Energy and its assets from U.S. private equity firm Carlyle.
The assets will include seven onshore production licenses, a pipeline network and the Gamba export terminal in Gabon.
Premier Invest is working with law firms White & Case and Fasken to raise the funds, which GOC will back with a 40,000 barrel per day (bpd) guarantee and repay over a 5-year period.
GOC plans to leverage the acquired assets to attract fresh investments into the country and enhance Gabon’s oil production, aiming for a 220,000 bpd output.
