The Gabon National Oil Company has acquired exploration and production company Assala Energy from Carlyle
This was the direct result of the NOC's pre-emptive rights, which the company excercised in November last year to initiate a sale and purchase agreement with Carlyle in February. Previously, Maurel & Prom was running for the Assala acquisition.
Strategic acquisition
The NOC tied up with Switzerland-based global energy commodities trading company, Gunvor Group, which offered financial support for the acquisition.
“Gunvor is proud to have been selected as Gabon’s partner for this strategic acquisition,” said Stephane Degenne, member of Gunvor Group’s executive committee. “As a leading global oil trading company, Gunvor brings its strengths – global market expertise and financing – to support GOC’s energy agenda.”
Assala's daily production count remains around 45,000 barrels. Marcellin Simba Ngabi, Gabon Oil Company’s CEO, considers this acquisition a means for reinforcing control and sovereignty over its oil and gas reserves to increase revenues. Gabon continues to experience rich discoveries, with BW Energy-operated Hibiscus field being one of the latest instances. The northern flank of the field received sustantial oil with good reservoir quality.
Gabon Oil Company acquires Assala Energy
The acquisition was a direct result of the NOC's pre-emptive rights. (Image source: Adobe Stock)
