American oil firm Exxon Mobil has re-entered Gabon’s petroleum sector after more than 12 years, following the signing of a Memorandum of Understanding (MoU) with the Gabonese government to explore offshore oil and gas opportunities.
The agreement, announced in mid-October 2025, marks Exxon Mobil’s renewed interest in deep-water and ultra-deep-water blocks along Gabon’s southern offshore basin an area largely under-explored but believed to hold significant hydrocarbon potential.
Sources familiar with the deal said the MoU could cover as many as six exploration blocks, positioning Exxon Mobil to deploy its advanced deep-water drilling technologies in the Central African nation. While the MoU is non-binding, it lays the groundwork for future production sharing contracts and detailed seismic surveys.
According to Gabon’s Ministry of Petroleum, nearly 72% of the country’s oil acreage remains unexploited, underscoring the vast potential for new discoveries and investment.
Gabon’s Oil Ambitions
For Gabon, the move represents a major step toward revitalising its hydrocarbons sector, which has suffered from declining production in mature fields. The government has been actively courting global energy firms to boost exploration, diversify production, and modernise the industry’s infrastructure.
Officials in Libreville say Exxon’s entry brings not only investment but also critical technical expertise and environmental standards, positioning Gabon as a key deep-water player in Central Africa.
What it Means For Exxon Mobil
For Exxon Mobil, the agreement aligns with its broader strategy of expanding exploration in high-potential offshore regions across Africa. The company already maintains operations in Nigeria and Angola and has recently increased its interests in Mozambique’s gas sector.
Analysts say Gabon’s offshore plays fit Exxon’s appetite for long-term, high-reward exploration projects at a time when global oil majors are balancing energy transition goals with continued fossil-fuel investments.
Despite optimism, the deal remains at an early stage. Industry observers note that deep-water exploration is capital intensive, technically demanding, and high-risk. Moreover, Gabon’s fiscal and regulatory environment will be key in determining whether the agreement progresses to commercial drilling and eventual production.
