Perenco’s production activities in Gabon began in 1992 with the acquisition of mature fields off Port-Gentil, with 8,000 barrels of oil produced daily. Twenty-six years later, the average annual production has reached 90,000 barrels per day and 50 million cubic feet of natural gas in 2017. This growth is supported by the continuous development of mature fields, a balanced acquisition strategy and several exploration successes.
Perenco Gabon operates oil and gas licenses both offshore and onshore. In addition to its oil and gas portfolio, it also operates two floating offshore floating storage and offloading units.
In 2018, Perenco produced more than 40% of Gabon’s total oil production, according to the Ministry of Economy. Last February, it signed three exploration and production sharing contracts with Gabon. The company has an exploration period of eight years and undertakes to invest an amount of at least $90 million for the search for hydrocarbons in the Gabonese sedimentary basin.
Although petroleum production fell by 9,2 million barrels in 2018 or about 11.46% compared to 2017 to reach 70,4 million barrels, some operators in the sector had managed to consolidate their performance, which was the case for Perenco.
According to data from Gabon’s Ministry of the Economy, the Perenco Group remained the leader in 2018 with a contribution of 40% to national production. With production estimated at 90,000 barrels of crude oil per day, Perenco is still the leader in Gabon’s oil sector.
Followed by UK-based Assala Energy subsidiary Assala Gabon, which totals 41,600 barrels per day for a contribution to national production of 22%, Perenco confirms its historic leadership in Gabonese oil production.
In addition, for more than 10 years, Perenco has supplied natural gas to the Libreville and Port-Gentil power plants. Thanks to a solid portfolio of exploration permits, investment capacity and the extent of its infrastructure, Perenco is a leader in gas production, able to meet the growing needs of electricity on a lasting basis.
With a new oil and gas code soon to be implemented and an ongoing licensing round, Gabonese leadership is creating a new attractiveness for its offshore hydrocarbon resources. The country is hoping to offer incentives to explorers in the country, as well as new players to become leaders in Africa’s oil sector.