Gabon National Oil Company partners with Gunvor on Assala Energy acquisition

LIBREVILLE – The Gabon National Oil Company (Gabon Oil Company), which exercised its pre-emptive rights in November 2023 and subsequently entered into a sale and purchase agreement with Carlyle in February 2024, is pleased to announce the successful completion of its acquisition of Assala Energy, an oil exploration and production company active in Gabon, whose daily production is around 45 000 barrels.

This acquisition was done with the financial backing of Gunvor Group, a leading global energy commodities trading company based in Switzerland.

According to Marcellin SIMBA NGABI, Gabon Oil Company’s Chief Executive Officer, this acquisition is of paramount importance for the Republic of Gabon, unique shareholder of Gabon Oil Company. It will enable the Republic of Gabon, reinforce its control and sovereignty over its oil and gas reserves and significantly increases its oil revenues.

“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.”