Gabon is confident that its sub-salt poten-tial will attract new investment, despite growing risks faced by foreign operators in its upstream sector. Chinese state-controlled Sinopec subsidiary Addax Petroleum is in a legal dispute with the state after Gabon’s deci-sion to revoke the firm’s rights to the onshore Obangue and Tsiengui fields last year. Addax was replaced as operator by state-owned Gabon Oil (WPA, 14 June, p6). And Gabon’s investment reputation has been hit by the Extractive Industries Transparency Initiative’s (EITI) decision in February not to accept the country’s candidacy for the group. Strikes by oil unions have disrupted Gabonese crude exports, and piracy is a growing problem.
展开▼
