Gabon To Add To Production with Two New Fields

Gabon has recently begun development of two new fields, Niungo and Ompoyi, located in the southwestern maritime Ogouee province. When fully developed they will add 13,500 barrels per day of crude to Gabon's current production of 98,550 bpd.

Niungo is an onshore field first discovered by Shell in 1987 and later sold to Perenco in 1996. Ompoyi is located offshore and is operated by Perenco as well. These two fields will boost Perenco's Gabonese production, which is currently at 39,000 bpd. Perenco accounts for 15% of Gabonese production and is the fourth largest producer in the country.

Gabonese officials are optimistic the new fields would slightly reverse the decline in crude oil production, which dropped from 135,050 million barrels in 1998 to 98,550 million barrels two years ago. According to government estimates, crude oil production is expected to decline from 89,790 barrels in 2002 to 82,490 next year.