Country profile: Gabon

Location:

Western Africa, bordering the Atlantic Ocean at the Equator, between Republic of the Congo and Equatorial Guinea

Climate:

tropical; always hot, humid

Terrain:

narrow coastal plain; hilly interior; savanna in east and south

Size:

267667 sq. km total (Land area: 257667 sq. km Water area: 10000 sq.km)

Population:

1,485,832

Languages:

French (official), Fang, Myene, Nzebi, Bapounou/Eschira, Bandjabi

Government:

republic; multiparty presidential regime

Capital city:

Libreville

Legal system:

based on French civil law system and customary law; judicial review of legislative acts in Constitutional Chamber of the Supreme Court; has not accepted compulsory ICJ jurisdiction

Currency:

Communaute Financiere Africaine franc (XAF); note

Licensing:

Country profile

Gabon’s economy is highly dependent on oil production, with the country’s oil exports accounting for 51 percent of GDP and 63 percent of government revenues. Gabon’s per capita GDP is approximately $5,500, well above most of sub-Sarharan Africa. However, most of the population lives below the poverty line as evidenced by Gabon’s rating of 124 (out of 177) on the Human Development Index (HDI) and unemployment stands at about 40 percent.

Gabon hopes to increase growth in non-oil sectors as it is currently facing significant declines in both oil production and reserves. The country’s other main exports are timber, uranium and manganese but oil still represents 70 percent of the total exports. In recent years, Gabon has taken steps to market itself as a high end ecotourism destination. Nonetheless, the country is expected to continue relying on oil production in the near future.

In addition to declining oil production, Gabon is faced with high debt payments amounting to 40 percent of the annual government budget. In May 2007 the IMF approved a new US$ 117 million standby loan to support government efforts to expand the non-oil sectors of the economy.

Gabon is a relatively stable country located in the Gulf of Guinea. President Omar Bongo Ondimba has been in office since 1967 and is the longest serving head of state in Africa. In 2005 he was reelected for his seventh term through 2012. While there has been some localized social unrest it has not affected oil investment. Regionally, Gabon has been in a dispute with Equatorial Guinea over three islands in the Corsico Bay that could potentially contain oil deposits. The final status of the islands is still pending. Gabon is also a signatory to the Extractive Industries Transparency Initiative that supports governance and revenue transparency from the oil, gas and mining sectors. In 1996, Gabon retracted its membership in the Organization of Petroleum Exporting Counties (OPEC), citing the organization’s high annual dues as the reason.

Energy production and consumption

Oil

Gas

Production:

266,000 bbl/day (2005 est.)

95 million cu m (2005 est.)

Consumption:

13,000 bbl/day (2005 est.)

95 million cu m (2005 est.)

Exports:

228,000 bbl/day (2005 est.)

Imports:

2,436 bbl/day (2005 est.)

Reserves:

1 billion bbl (2007 est.)

32 billion cu m (1 January 2006 est.)

Major fields:

Gabon - recent news

02 Nov 26	Gabon: Borr Drilling provides an update on the Prospector 5 incident offshore Gabon Borr Drilling has provided an update on the Prospector 5 incident offshore Gabon, first announced by the Company on October 25, 2026. The Company has engaged a globally recognized classification society with extensive experience in offshore and maritime incident investigations to conduct an independent investigation into the incident.
29 Oct 26	Gabon: Borr Drilling provides update on the Prospector 5 rig incident Borr Drilling has provided an update on the Prospector 5 incident offshore Gabon, first announced by the Company on October 25, 2026. Of the 115 personnel on board at the time of the incident, 110 have returned ashore.
15 Oct 26	Gabon: BW Energy reports positive appraisal results at Dussafu set to fast-track new production well BW Energy, the operator, has found commercial volumes in both appraisal wells drilled in the Dussafu field in Gabon, with combined recovery estimated at approximately 8-9 million barrels of oil gross. The results support two additional producing wells, the first of which will be drilled in the ongoing MaBoMo Phase 2 campaign, on track for first oil in the first quarter of 2027.
13 Oct 26	Gabon: BW Energy strengthens financing with long-term Bourdon WHP lease and RCF extension BW Energy has entered into a USD 208 million project-level lease financing for the Akoum wellhead platform (WHP) to be installed on the Bourdon field offshore Gabon and has signed an 18-month extension to the USD 250 million corporate revolving credit facility (RCF). The agreements further strengthen the financing platform as BW Energy executes its long-term growth strategy.
07 Oct 26	Gabon/Côte d’Ivoire: VAALCO Energy announces positive operational updates VAALCO Energy has announced successful completion of the offshore Gabon Phase 3 drilling program, including encouraging initial well results on the ETSEM-3H well and demobilization of the rig from the SE Etame platform. Additionally, the Company provided updates on the recently commenced Baobab drilling program offshore Côte d’Ivoire.