Gabon was a member of OPEC but withdrew in 1994.
Production rapidly increased but peaked in 1996. Unbroken decline has
since occurred although new offshore and onshore output has now created
a plateau which may be sustained until at least 2014.
Approximately equal amounts of oil have been produced onshore and
offshore from adjoining basins. Although there is some deepwater
potential Gabon lacks the deepwater basin geology of neighbouring
Most associated gas is flared or re-injected but production is forecast
to start increasing as new local markets are established.
After hitting a low in 1998 consumption has been very
slowly increasing since 2002. Exports have declined from a high in 1997
due to reduced output.
Gas consumption, which is very low, will increase rapidly after 2009 as
new markets are created and fuel substitution strategies are developed.