Petronas Signs Offshore Deal with Gabon

Laxman Pai
Monday, August 5, 2019

Malaysian oil and gas company Petroliam Nasional Bhd (Petronas) has signed an agreement with Gabon for two exploration permits after the African country enacted a new oil law last month.

A Bloomberg report quoted Noel Mboumba, Gabon’s petroleum minister saying that the deal follows the enactment of a revised hydrocarbons code last month, made with the support of the International Monetary Fund.

The new code is more fiscally attractive than the previous one, the statement said citing Mboumba, the report said.

Petronas  already has a presence in Gabon and is the first company to sign an exploration and production contract in the country in five years.

Categories: Offshore Energy Drilling Exploration Contract

Related Stories

Equinor Finds Gas and Condensate at Atlantis Well in North Sea

Petrobras to Launch Tender for Brazil's Biggest Ever FPSO

Thailand's Gulf Energy Buys 50% Stake in German Offshore Wind Farm for $631M

Current News

Wave of N. American Oil and Gas Bankruptcies to Continue at $40 Oil

Offshore Industry Welcomes UK Gov't Job Retention Bonus. Calls for Long-Term Support

Northern Offshore Services Adds Two More Vessels to Its Fleet

Halliburton, TechnipFMC Launch Acoustic Sensing Solution for Subsea Wells

Subscribe for OE Digital E‑News