ExxonMobil has signed an agreement with the government of Gabon to explore oil and gas resources off the coast of the Central African country. An ExxonMobil spokesperson stated that the company will collaborate with the Gabonese government to explore deepwater and ultra-deepwater offshore areas for oil and gas.
- Gabon’s oil production reached 11 Mt in 2023, and the country holds 272 Mt of proven oil reserves, with a significant portion located in deep offshore waters.
- This announcement follows a high-level meeting held in August 2025 between Gabon’s Minister of Oil and Gas and an ExxonMobil delegation.
The memorandum of understanding marks an expansion of the US oil major’s activities in Africa. ExxonMobil already has operations in Nigeria, Angola, and Mozambique, although it decided in 2022 to exit Equatorial Guinea.