Gabon’s petroleum minister, Noel Mboumda, stated that Malaysia’s state-owned oil company has signed an agreement with Gabon for two exploration permits. This happened after the African country enacted a new oil law on July 2019.
According to the statement, Petroliam Nasional Bhd, also known as Petronas, has a presence in Gabon and is the first company to sign an exploration and production contract in the country for 5 years.
With the support of the International Monetary Fund, this particular deal follows the enactment of a hydrocarbons code revised last month.
Source: World Oil