Exxon Mobil is expanding its footprint in Africa after signing a new exploration agreement with the government of Gabon. The memorandum of understanding will see the US energy giant explore for new oil and gas resources in the country’s deepwater and ultra-deepwater offshore areas, signaling a continued interest in tapping the continent’s hydrocarbon potential. Exxon already operates in Nigeria, Angola, and Mozambique, though it exited Equatorial Guinea in 2022. This move follows a similar agreement in August with Trinidad and Tobago, marking Exxon’s return to the Caribbean nation after more than two decades. The Gabon deal underscores the company’s strategic focus on high-potential offshore projects while highlighting Africa’s growing importance in global energy exploration.
Reuters
