Opacity and managed decline. The first thoughts that spring to mind when thinking of Gabon.
Gabon’s oil production has been in terminal decline since the mid 90’s. The crash in crude prices, combined with the uncomfortable fact that oil exports make up 45% of Gabon’s GDP, must have the 52 year long Bongo regime growing a few grey hairs over the issue..
The Jethro-1 discovery has confirmed the Tertiary play in Guyana, proving Tullow’s geological model and verifing the UK/Irish explorer’s seismic interpretation of the Guiana Basin. The well is Tullow’s first in Guyana and is the first discovery outside ExxonMobil’s prolific Stabroek block, which contains over 5.5 Bboe of in place reserves.
The Dominican Republic has launched its first ever bid round in the hope to attract oil companies to further explore the country’s potential hydrocarbon resources.
