Gabon

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Country overview

The Republic of Gabon is located in West Africa. It is bordered by Congo-Brazzaville, Equatorial Guinea and Cameroon. The country has 9 provinces.
The name of the country comes from « Gabão », a Portugese word meaning "cap", which refers to the shape of the estuary of the coast of Libreville.
As one of the least-densely inhabited countries in Africa, offering abundant natural resources and a stable political environment combined with a strong economic base, Gabon presents a very attractive profile for foreign private investments.
The country exports manganese, oil, iron and wood. Oil revenues have progressively increased since 1970, which is in large part due to offshore oil production. Gabon's per capita income is about four times that of most sub-Saharan African countries. Over 50% of Gabon's GDP comes from petroleum and mining production. The petroleum industry generates 80% of export earnings; the largest current producers being Total and Shell. Gabon was a full member of OPEC from 1975 to 1995.

Map of our assets

Licence Areas

Within Gabon, Addax Petroleum has interests in five Production Sharing Contracts (PSCs) covering a combination of onshore and offshore licence areas, including a technical evaluation agreement. We have five producing fields in total.

Within Gabon, Addax Petroleum holds the following working interests:

LicenceWorking
Interest %		Net AcresOperator
ONSHORE

The Gabon onshore licence areas form the bulk of our production and operations in Gabon. They cumulatively cover an area of 830,100 acres (3,362 km2) and consist of three licence areas: Maghena, Panthere NZE, and Awoun. These licence areas contain three producing oil fields (Tsiengui, Obangue and Koula). Tsiengui and Obangue are operated by Addax Petroleum, while Koula is operated by Shell. Damier is a near-field discovery that will be tied to Koula, and Autour on the Panthere license is under development.
Maghena 92.5 150,200 Addax Petroleum

Tsiengui field (Maghena licence area)
The Tsiengui field is Addax Petroleum’s principal onshore Gabon producing and development property. It was discovered in 2002 and started production in July 2005. The field straddles two licenses: Maghena and Awoun. The Maghena licence area is approximately 100 km south-east of the coastal city of Port Gentil and covers a gross area of approximately 162,400 acres (657 km2). Addax Petroleum operates and holds a 92.5% interest in this licence.
Awoun 40 109,900 Shell

Tsiengui West, Koula and Damier fields (Awoun licence area)
The part of Tsiengui which extends into the Awoun license first came on-stream in 2007. Addax Petroleum holds a 40% interest in the Awoun licence area, which is operated by Shell Gabon. The Awoun licence area is approximately 80 km south-east of Port Gentil and covers a gross area of approximately 274,800 acres (1,112 km2). Koula and Damier fields were both discovered in 2004. Production from Koula started in May 2010.
Panthere NZE 92.5 27,500 Addax Petroleum

Obangue field (Panthere NZE licence area)
The Obangue field is Addax Petroleum’s second largest onshore Gabon producing property. It was discovered in 1988 and started production in 1998. The Panthere NZE licence is approximately 110 km southeast of the coastal city of Port Gentil and covers a gross area of approximately 29,700 acres (120 km2) and is immediately adjacent to the Maghena licence area. Addax Petroleum operates and holds a 92.5% interest in this licence.

Autour field (Panthere NZE licence area)
Autour was discovered in 1987, and further appraised in 2009. A field development plan was developed and approved in 2011.
OFFSHORE

The Gabon offshore licence areas are a combination of production, development and exploration properties. They cumulatively cover a gross area of approximately 5,610,900 acres (22,707 km2). On the Etame License there are three producing oil fields (Etame, Ebouri, and Avouma) and a discovery, North Tchibala.
Etame Marin 31.36 238,200 VAALCO

Etame field (Etame Marin licence area)
The Etame field is Addax Petroleum’s principal offshore producing licence area in Gabon. It was discovered in 1998 and started production in 2002. The Etame Marin licence covers an area of approximately 759,600 acres (3,074 km2) in the Gabon Basin, offshore southern Gabon. Addax Petroleum holds a 31.36% interest in the Etame Marin licence area, which is operated by VAALCO,. The field is in water depths of approximately 75 to 80 metres.

Avouma (Etame Marin licence area)
The Avouma field has been producing since 2007. The Avouma field was discovered in 2004 and is approximately 17 km southeast of the Etame field. Oil flowing from the Avouma platform is loaded on the Etame Marin FPSO via a 16 km pipeline.

Ebouri field (Etame Marin licence area)
The Ebouri field was discovered in 2003 and is approximately 18 km northwest of the Etame field. It has been producing since 2009.
Kiarsseny 42.5 571,600 Tullow

Kiarsseny licence area
In January 2004, Addax Petroleum signed an agreement with Tullow Oil for the acquisition of 42.5% in the Kiarsseny property, which is located offshore in the Port Gentil Basin, in water depths up to 800 m and which covers an area of approximately 1,344,900 acres (5,443 km2).
Total   1,097,400  

Addax Petroleum has non-operated Gabonese exploration interests in the Kiarsseny and Etame blocks offshore, and the Awoun block onshore. Following recent and current 3D seismic acquisition the exploration programme will involve the drilling of at least one onshore and three offshore wells in the next two years. With the benefit of this new data these wells will test both post and pre-salt objectives in different areas. Other ongoing exploration initiatives include detailed regional studies and the use of advanced modelling software to improve seismic data quality through improved acquisition and processing techniques.

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