Africa seems to be emerging as the prime drilling spot for the early 2020s – it is still relatively under-evaluated, would be cheaper than any other domestic project for Western or Russian majors (i.e. Arctic oil or deepwater) and seemingly would not be subject to the socially sensitive climate agenda issues that are restricting E&P activities in OECD countries. Thanks to a palpable amelioration of upstream terms and conditions, Gabon is returning to the global map of E&P investments – very timely going in the opposite direction of Nigeria’s recent drive to tax offshore projects more. Can Western majors join the competition with Asian oil and gas firms and outmuscle competitors? Were you to assess Gabon’s upstream code some 5 years ago, one would witness an increasing amount of political tensions between the Gabonese authorities and Shell, Total, Tullow Oil and other European investors. Then-Prime Minister David Cameron even […]