The Republic of Gabon has opened its 12th Shallow and Deepwater Licensing Round at Africa Oil Week in Cape Town.
The Minister of Oil and Hydrocarbons made the announcement, also outlining available blocks, improved fiscal terms, round timings, and conditions of the round.
Gabon has revised its petroleum code to prioritize competitiveness and transparency, and to be adapted to oil price fluctuations.
Acreage offered includes 12 shallow-water and 23 deepwater blocks. Applications must be received by April 22, 2019, with bids to be reviewed on May 23. Winning bids will be announced on June 24.
The Ministry, supported by Spectrum Geo, plans roadshows to Houston, London, Singapore and Equatorial Guinea to promote the rounds.
Spectrum, in collaboration with the Direction Générale des Hydrocarbures, has conducted various shallow-water 3D seismic surveys across the open blocks on offer under the 12th Round.
It has identified a variety of plays across the various basins covered and the data is available to interested bidders.