The Gabonese Government has signed an agreement with Nigerian energy infrastructure company Oilserv to develop and commercialise hydrocarbon reserves in two blocks in the country.
Oilserv disclosed the development in a statement published on its website.
The Agreement Protocol covers the DEF-3 and D4-5 blocks and also provides for gas transportation, compression and treatment infrastructure to support power generation and industrial activities in Gabon.
The agreement was signed by Gabon’s Minister of Petroleum and Gas, Clotaire Kondja, on behalf of the Gabonese State, while Oilserv was represented by its Chairman and Group Chief Executive Officer, Emeka Okwuosa.
Oilserv said the agreement establishes a framework for developing and commercialising the hydrocarbon reserves in the two blocks.
The agreement also covers gas transportation, compression and treatment infrastructure, with the infrastructure expected to support thermal power generation and industrial activities in Gabon.
The agreement adds to recent examples of Nigerian energy companies pursuing oil and gas projects in other African countries.
It would follow Dangote’s 650,000 barrels per day refinery in Lagos.
Meanwhile, Dangote recently revealed that construction of the Kenyan refinery would begin by the end of September, with completion expected within three years.
The Oilserv-Gabon agreement follows other deals involving Nigerian companies and governments seeking to develop oil and gas resources in African markets.
The Sierra Leone deal, like the Gabon agreement, involves a Nigerian company partnering with an African government to develop petroleum resources.
The projects, however, differ in scope and the specific assets covered.
