Gabon Acquired 15% Stake in Baudroie Oil Field from TotalEnergies

SEATTLE (Oil Monster): The Gabonese government has acquired 15% of the shares of the Baudroie oil field, previously held by TotalEnergies. The deal to purchase the shares through the state-owned Gabon Oil Company (GOC) was completed last week. The transaction's financial specifics were not made public.

The acquisition is part of efforts by the Central African country’s government to boost its presence in the oil sector by achieving increased daily oil production. The additional production capacity will help the country to strengthen its position as a leading oil producer in the region.

GOC's Managing Director, Marcelin Simba Ngabi, stated that the acquisition will increase production by 500 to 1,000 barrels per day. It anticipates a possible rise in production of 180,000 to 360,000 barrels per year. The government plans to directly take over operations or purchase additional stock in other businesses.

It should be mentioned that in recent years, Gabon has been taking back control of its energy resources. It has previously purchased assets from Addax Petroleum Oil & Gabon and Assala Energy Gabon. In 2025, the government wants to produce 11.1 million tons of oil.

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