As part of its new development strategy focused on natural gas exploitation, oil company Perenco will devote three-quarters of its US$2 billion investment budget to Africa in 2025, according to credible sources quoting the company’s CEO.
Particular attention is being paid to Gabon, which accounts for almost 25% of the company’s total production.
Company officials claim that Gabon will absorb a large part of the capital expenditure planned in 2025 for the construction of the gas pipelines that will cross the country.
The network will be linked to a small-scale liquefied natural gas plant that will produce 700,000 tonnes per year.
“We believe that there are many untapped gas reserves along the African coast, which could be targeted by this type of development,” said Simondin, CEO of Perenco.
Simondin also revealed that the Franco-British company also intends to invest further in Congo-Brazzaville, following the acquisition of oil assets from Italian group Eni in 2023.
“We are in talks with the Congolese government to extend existing licenses. Discussions are also underway with other majors to take over other assets in the country”, he points out.
He explains: “The company will continue to fight against the decline in its hydrocarbon production, but by now being very proactive in the exploration and development of natural gas projects. As part of the transition, gas really has a key role to play, and it’s a very important part of the strategy for the future”.
According to Perenco officials, oil production has fallen “a little more” from the average level of 500,000 barrels per day recorded in recent years.
Olivier KAFORO