See also:
» 15.04.2010 - Gabon striking workers unmoved by govt call
» 19.11.2008 - Gabon oil investments get "go ahead"
» 23.07.2008 - Gabon, Equatorial Guinea resolving border dispute
» 13.06.2008 - Gabon prepares oil licensing round for 2009
» 10.04.2007 - Addax gets Gabon petrol acquisition
» 13.10.2006 - Gabon oil production stops declining
» 27.02.2006 - Gabon, Equatorial Guinea resolving border crisis
» 15.02.2005 - New promising onshore oil prospect in Gabon











China wholesale online through DHgate.com


Houlihan's coupons


Finn autentiske matoppskrifter fra hele verden på Verdensmat.no:
Gazpacho Børek Kartoffelsalat Taboulé Gulasj Albóndigas Cevapi Rougaille Japrak sarma Zwiebelbrot Klopse Giouvetsi Paella Pljeskavica Pica pau Pulpo a la gallega Flammkuchen Langosj Tapenade Chatsjapuri Pasulj Lassi Kartoffelpuffer Tortilla Raznjici Knödel Lentejas Bœuf bourguignon Korianderchutney Brenneslesuppe Proia Sæbsi kavurma Sardinske calamares


Autentiske matoppskrifter fra hele verden finner du på Verdensmat.no:
Réunion Portugal Aserbajdsjan Serbia Tyskland Seychellene Bosnia Spania Libanon Belgia India Kroatia Hellas Italia Ungarn Komorene Georgia Mauritius Østerrike Romania Frankrike


Gabon
Economy - Development

Renewed motion in Gabon's oil industry

afrol News, 8 September - Reports of new oil discoveries and production increases in Gabon are issued at a more frequent rate. Yesterday, Shell Gabon and its partners announced the discovery of a new onshore field. Last week, Vaalco Energy announced that Gabon's offshore Etame Field had increased production. Gabon seems to turn the negative tide of negative production figures.

Shell Gabon and its co-venturer PanOcean Energy yesterday announced a light oil discovery in the exploration well AWOKOU-1 in the Awoun Permit, located eight kilometres to the north of the Total/Shell producing Avocette field, onshore Gabon. Shell is the field's operator with a 50 percent interest, while the Gabonese government has a 20 percent option in the new discovery.

According to a statement issued by PanOcean, the AWOKOU-1 exploration well was successfully drilled and logged. "Based on the data collected thus far, the AWOKOU-1 well has come in close to prognosis and found oil in thick Gamba sandstone," the statement said.

AWOKOU-1 is the first well drilled as part of a two-well exploration campaign in the new permit. The second exploration well (AWODAM-1) is set to be drilled in October 2004, some three kilometres to the southwest of the AWOKOU-1 discovery, according to the minor US oil company that already has a substantial light oil production in Gabon.

The announcement by PanOcean and Shell Gabon comes less than one week after the Texan oil company Vaalco Engery issues a press release, announcing an increase in its production in Gabon. Its recently completed development well, ET-5H, in Gabon's offshore Etame Field was now producing oil at the rate of 9,200 barrels per day, the company said.

- We have been able to stabilise production at approximately 9,200 barrels per day, stated Vaalco Chairman Robert Gerry. "This brings total production from the Etame Field to approximately 23,500 barrels per day. We continue to carefully monitor all aspects of our operations to ensure reservoir stability at this higher production level," he added.

These announcements come after several small and large oil companies - mainly based in the USA - recently increased their exploration efforts in Gabon, probably as part of Washington's national strategy to secure at least 25 percent of its oil imports from Atlantic Africa within the next decade. New oil explorations have also strongly been encouraged by Gabonese authorities.

Only a few years ago, Gabon had been widely given up as a location for new oil investments. This was due to the fact that the country's oil reserves were among the first to be exploited in Africa and known reserves were rapidly being depleted. So far, the all time peak of Gabon's oil production was reached in 1997, with 371,000 barrels per day. In 2003, this had fallen to under 240,000 barrels per day.

Due to Gabonese and US government incitements to explore new oil resources in Gabon, the country's proven oil reserves have doubled since 1996 and have now reached an estimated 2.6 billion barrels. Production is however still decreasing, although at a much slower rate than in the late 1990s. The tide nevertheless seems to have turned.



- Create an e-mail alert for Gabon news
- Create an e-mail alert for Economy - Development news


 
    Printable version


On the Afrol News front page now

Rwanda
Rwanda succeeds including citizens in formal financial sector

afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.

Famine warning: "South Sudan is imploding"

afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
Guinea
Panic in West Africa after Ebola outbreak in Guinea

afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
Ethiopia
Ethiopia tightens its already strict anti-gay laws

afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
Ethiopia
Ethiopia plans Africa's biggest dam

afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.



front page | news | countries | archive | currencies | news alerts login | about afrol News | contact | advertise | español 

©  afrol News. Reproducing or buying afrol News' articles.

   You can contact us at mail@afrol.com