CAPE TOWN, South Africa,Gabon is drawing renewed interest from international energy giants as the country seeks to develop its largely untapped oil and gas reserves, according to Oil & Gas Minister Sosthène Nguema Nguema. Speaking at the OPEC-Africa Roundtable during African Energy Week 2025, Nguema revealed that 72% of Gabon’s resources remain unexplored, with gas playing a pivotal role in industrialization. He added that a major agreement with international partners is expected to be formalized soon.

The roundtable highlighted Africa’s increasing significance in the global energy landscape. OPEC Secretary General Haitham Al Ghais emphasized that Africa is not only a rising supplier but also a rapidly growing consumer, projecting crude consumption to reach 4.5 million barrels per day by 2050. He stressed the need for energy strategies that balance development with climate considerations.

Nigeria’s Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, noted the scale of investment required, estimating $540 billion annually for upstream oil and gas. He emphasized that local solutions, especially in gas for LPG and industrial growth, are critical for sustainable development.

Bruno Jean-Richard Itoua, Minister of Hydrocarbons for the Republic of Congo, highlighted Congo’s production plans to double from 260,000 to 500,000 barrels per day within five years, emphasizing that OPEC collaboration ensures market stability and attracts investment.

The discussion also explored Africa’s energy security and the potential for locally tailored solutions, including LPG, clean hydrogen, and renewables. Al Ghais underscored the importance of a country-specific approach to energy access, affordability, and climate responsibility, affirming that developing regions should not be denied the right to responsibly utilize their energy resources.

 

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