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Total, Shell Sell Oil Assets In Gabon

Oil majors Shell and Total SA are divesting some of their assets in Gabon, which signals a shift in the oil players’ line-up in the country that rejoined OPEC last year after more than two decades.

Apart from Total, Royal Dutch Shell is also looking to sell assets in Gabon as part of its US$30 billion global divestment plan. In November 2016, a Shell spokesman told Reuters that the company had informed its staff that it was in advanced talks to sell its onshore operations in Gabon.

Related: Have The Majors Given Up On Canada’s Oil Sands?

According to S&P Global Platts, Shell’s output in Gabon is some 55,000 bpd of oil equivalent. The Anglo-Dutch major also operates the Gamba terminal, which exports additional 20,000 boepd from other producers.

When Gabon rejoined OPEC last year, it expected to widen cooperation with the cartel and seek to boost its domestic production, which was around 219,000 bpd in 2015, down from 222,000 in 2014 and a peak of 370,000 bpd in 1997. Gabon – the cartel’s smallest producer – is part of the production cut agreement with a pledge to reduce output by 9,000 bpd to bring it to 193,000 bpd between January and June. OPEC’s figures for January show Gabon pumped 199,000…

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