Gabon: after two quarters of decline, the extractive sector is back on the rise

After a difficult start to the year, marked by a fall in production in the first half, Gabon's extractive industry recorded a significant recovery in the third quarter of 2024. According to a report from the Ministry of the Economy, overall production rose by 3.5%, driven by significant performances in the manganese, marketed natural gas and oil sectors.

Oil production, which had been slowed by operational incidents and a tragic accident at the Becuna site operated by Perenco, rose by 3.1%. This rebound is attributed to a better performance from mature fields and the start-up of production from new wells, providing fresh impetus to a key sector of the Gabonese economy.

Manganese continues to play a crucial role in the country's extractive industry. Production rose by 4.5%, thanks to excellent results from Compagnie minière de l'Ogooué (COMILOG), a subsidiary of the French group Eramet. With 2 million tonnes extracted during the period, COMILOG has confirmed its leading position in the exploitation of this strategic resource.

Marketed natural gas production also rose by 3.7%, after overcoming technical challenges related to the modernisation of transport infrastructure. This improvement reflects the efforts being made to strengthen the resilience of the energy sector, a key pillar of the Gabonese economy.

Despite these encouraging results, the government remains determined to reduce the country's economic dependence on extractive industries, particularly oil. Initiatives are underway to diversify the economy and explore new growth sectors.

The Gabonese authorities have expressed their determination to maintain this upward momentum in the months ahead. By investing in modernising infrastructure, exploring new deposits and improving yields, Gabon is positioning itself to take advantage of its rich mining and energy potential while working to build a more resilient and diversified economy.

This recovery is a breath of fresh air for the Gabonese economy and reflects the joint efforts of industry players and the authorities to overcome structural and cyclical challenges.