Anglo-French oil and gas player Perenco has taken a final investment decision (FID) for the construction of a liquefied natural gas (LNG) production unit in Gabon.
The LNG plant will be built at the Cap Lopez oil terminal that Perenco acquired from TotalEnergies in 2021.
The planned LNG production unit will involve an investment of more than $1 billion and will see the transformation of Cap Lopez into both oil and gas terminal.
According to Perenco, it will take three years to construct this plant which is expected to produce 700,000 tonnes of LNG.
The company did not reveal further details about the project.
In Gabon, Perenco operates oil and gas licenses both offshore and onshore as well as two floating offshore storage and offloading units (FPSO).
In 2021, the company acquired TotalEnergies’ portfolio of mature non-operated assets located offshore Gabon. With this transaction, in an amount of $350 million before final adjustment, TotalEnergies EP Gabon divested its interests in seven mature offshore fields operated by Perenco Oil and Gas Gabon, along with its interests and operatorship in the Cap Lopez oil terminal, to Perenco Oil and Gas Gabon.
When it comes to its recent activities, Perenco made an oil discovery in an exploration well located in the shallow water Pointe Noire Grand Fond (PNGF) Sud license off Congo, which was described as a potential play opener.
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