Gabon: Three dropped from bid round blocks

Three companies previously named as having won blocks in the 2013 offshore oil licensing round have been dropped from the list because they lack the necessary financial clout, oil minister Etienne Ngoubou said on 28 May. “The offshore requires huge investment and the companies turned down did not meet those requirements,” Ngoubou told reporters. The three were Noble Energy, Cobalt International Energy and Israeli miner Elenilto. Gabon announced the award of 13 oil and gas blocks to 11 companies in October 2013 and contract negotiations are under way.