Tullow Oil Eyes More Investments in Gabon

By Emmanuel Tumanjong

Special to Dow Jones Newswires

Tullow Oil has declared its intentions to expand investment in Gabon after the company’s Africa Regional Director Jean Medard Madama held talks Wednesday with the country’s Minister of Hydrocarbons Vincent De Paul Massassa.

“We have been exploring in Gabon in the past and we continue to look with interest at the Gabonese oil basin, reason why recent studies have prompted us to identify more areas of interest for which we want, with the assistance of the ministry in charge of the oil field to see what are the conditions for being able to have access to these blocks and therefore return to Gabon as an oil producer,” Mr. Madama said.

Tullow Oil entered into a merger with Capricorn Energy in June and has already been in Gabon with other energy companies.

The London-listed energy company said in February last year that it would be ceding its 10% stake in Gabon’s Dussafu production-sharing permit, located in the southeast province Nyanga, to Panoro Energy.

Write to Barcelona Editors at barcelonaeditors@dowjones.com

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