Gabon intends to acquire the Assala Energy company owned by the Carlyle Group Inc. by exercising its existing shareholder rights in the company, which pumps crude oil from the central African country, Interim Gabonese President Brice Oligui Nguema said in his New Year’s televised address.
"With a view to boost our revenue, we have decided to exercise the state’s preemptive right to purchase the oil company Assala," Nguema stated.
This decision holds "immense national importance" as it allows the Republic to assert its autonomy in the oil industry, Nguema added.
Furthermore, the oil ministry spokesman informed the media that the Gabonese government intends to exercise its preemptive right via the state-owned Gabon Oil Company.
Later in October, the company reported that "the approval process for the acquisition of Assala [was] currently underway with the Ministries of Oil and Economy of Gabon."
Gabon is a member of OPEC and produces approximately 220,000 barrels of oil per day. Assala's operations reportedly contribute to 20% of the total production, producing 45,000 barrels per day.
The recent move by Gabon's transitional government effectively curbs the French company's efforts to purchase the fossil fuel asset in the predominantly French-speaking nation.
In March 2023, another African country — Chad — nationalized all assets and rights, including exploration and production authorizations and hydrocarbon permits, previously held by a subsidiary of Exxon Mobil, the Central African nation's energy and hydrocarbons provider.