US oil giant ExxonMobil has announced the signing of a new agreement with the government of Gabon to explore potential oil and gas reserves off the Central African nation’s coast.
According to a Reuters report, the deal a memorandum of understanding (MoU), is a non-binding agreement that signals the company’s renewed interest in expanding its operations across Africa.
ExxonMobil already has a strong presence in several African countries, including Nigeria, Angola, and Mozambique, though it withdrew from Equatorial Guinea in 2022 as part of a global portfolio review.
A company spokesperson told Reuters that the collaboration will focus on deepwater and ultra-deepwater offshore exploration, working closely with Gabon’s authorities to identify new energy opportunities.
The move follows Exxon’s recent decision in August to return to Trinidad and Tobago for deepwater exploration, its first venture there in over two decades.
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