On October 28, 2026, President Brice Clotaire Oligui Nguema of Gabon received officials from VAALCO Energy at the Presidential Palace in Libreville. The meeting aimed to assess the current partnership between the Gabonese government and VAALCO Energy, which has been operating in the country for over 25 years. According to a statement from the Presidency, the discussions focused on the group's investment plans and the development of national skills.
During the meeting, VAALCO Energy officials reaffirmed their commitment to continuing investments in Gabon and strengthening the training of local workforce. They highlighted that nearly 90% of the company's employees in the country are Gabonese nationals. This demonstrates the company's efforts to involve local talent in its operations and contribute to the country's economic growth.
President Oligui Nguema emphasized the importance of transparency, compliance with national legislation, and rigorous execution of fiscal and contractual obligations by VAALCO Energy. To ensure this, working sessions will be organized between the company's officials and the Task Force responsible for examining its activities. These discussions will aim to clarify observations from audit reports, particularly regarding royalties and the company's commitments to the state.
The President stressed that the continuation of the partnership between Gabon and VAALCO Energy must be based on responsible cooperation that prioritizes national interests, optimizes petroleum resources, and generates tangible economic benefits for the Gabonese people. The partnership should contribute to the country's sustainable development and improve the living standards of its citizens.
The meeting between President Oligui Nguema and VAALCO Energy officials reflects the government's efforts to strengthen cooperation with foreign investors and promote responsible management of natural resources. Gabon's petroleum sector plays a significant role in the country's economy, and the government seeks to maximize its benefits while ensuring environmental and social responsibility.
The working sessions between VAALCO Energy and the Task Force will provide an opportunity to address concerns and outline a roadmap for the company's future activities in Gabon. By fostering a collaborative approach, the government aims to create a favorable business environment that attracts investments and promotes economic growth.
The partnership between Gabon and VAALCO Energy has the potential to drive economic growth, create jobs, and improve the country's infrastructure. As the government continues to engage with foreign investors, it is likely that the petroleum sector will remain a key driver of Gabon's economy in the coming years.
Key points
- President Oligui Nguema emphasized the importance of transparency and compliance with national legislation in the partnership between Gabon and VAALCO Energy.
- VAALCO Energy officials reaffirmed their commitment to continuing investments in Gabon and strengthening the training of local workforce.
- The partnership between Gabon and VAALCO Energy aims to drive economic growth, create jobs, and improve the country's infrastructure.
