Volume 3, issue #23 - 28-09-1998

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Strong interest for seismic data ultra-deep blocks offshore Gabon

Aug. 11, 1998 Around 16 oil companies, including most of those already operating in Gabon, bought seismic information relating to 13 ultra-deep blocs off Gabon in a recent government offer.
The data were compiled in a study conducted by Schlumberger Geco-Prakla and have been made available by the government in an attempt to stimulate interest in its ultra-deep deposits.
"Gabon is putting a lot of hope in the ultra-deep offshore and there's no exclusive rights in the oil sector," Energy Minister Paul Toungui said.
"Oil research costs a lot and, in the context of globalisation, Gabon intends to give the same chance to all investors," he added.
Toungui said it was time to end the "myth" that Gabon was the private hunting ground of any one state or society.
This was seen as a reference to French company Elf-Aquitaine and to long-standing cooperation agreements with France on strategic products.
Some 15 companies showed interest in developing offshore Gabon oilfields after a tender launched by the government during last year's Africa Upstream '97 conference in South Africa.
Gabon is expecting to produce 18.3 mm tonnes of crude oil in 1998, according to Toungui, and is looking to the deep offshore deposits to keep the oil flowing well into the next century.