GABON

GABON (in West Africa)	CAPITAL: LIBREVILLE POPULATION: 1.5 mm AREA (on): 267,700 km² OIL PEAK: 1996
SUPPLY 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 countries. Most associated gas is flared or re-injected but production is forecast to start increasing as new local markets are established. DEMAND 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.


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