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Petronas Signs Offshore Deal with Gabon

By  AOG Staff Sunday, 04 August 2019 20:09
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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.

Image: Petronas
Image: Petronas

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.

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