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Gabon opens 42 offshore oil blocks to exploration

Reuters -- LIBREVILLE, March 12 - Gabon, Africa's seventh largest oil producer, is offering 42 additional offshore deepwater and ultra-deepwater oil blocks for exploration, the government said on Friday.

The West African nation, which currently produces roughly 250,000 barrels of crude oil per day and relies on energy for about half of its gross domestic product, is seeking bids from international firms by May 5, it said.

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Submitted Mar 12, 2010 By: Mudsprings

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Blue48 Champion Author Illinois Posts:2,491 Points:633,840 Joined:Feb 2007	Message Posted: Mar 14, 2010 8:56:58 PM Ignore Blue48 Report Abuse OK!
cpl11787 All-Star Author Minnesota Posts:630 Points:123,275 Joined:Jan 2010	Message Posted: Mar 14, 2010 5:37:18 PM Ignore cpl11787 Report Abuse possibly a good thing.
ashishpa All-Star Author St. Louis Posts:559 Points:131,120 Joined:Feb 2010	Message Posted: Mar 13, 2010 4:22:40 AM Ignore ashishpa Report Abuse Seems big amount of exploration initiative.
TPlayer All-Star Author Fort Wayne Posts:572 Points:138,955 Joined:Jan 2010	Message Posted: Mar 13, 2010 2:36:41 AM Ignore TPlayer Report Abuse The more oil finds the better... especially with the big whore china trying to topple us...
goldseeker Champion Author West Virginia Posts:12,680 Points:1,709,715 Joined:Sep 2005	Message Posted: Mar 13, 2010 12:29:22 AM Ignore goldseeker Report Abuse Really?
tedjm1 Champion Author New York Posts:1,362 Points:159,005 Joined:Dec 2006	Message Posted: Mar 13, 2010 12:28:33 AM Ignore tedjm1 Report Abuse It's a way to make money. Always will find some company willing to search for oil even in the deep ocean.
Blue_Cruzer Champion Author Lexington Posts:2,807 Points:733,785 Joined:Mar 2007	Message Posted: Mar 13, 2010 12:26:44 AM Ignore Blue_Cruzer Report Abuse It will be interesting to see how much money they get for these 42 sites.
misterray Champion Author Oregon Posts:1,992 Points:497,240 Joined:Aug 2008	Message Posted: Mar 13, 2010 12:26:43 AM Ignore misterray Report Abuse That's not exploration, it's exploitation.
TBONE3 Champion Author Pennsylvania Posts:3,693 Points:966,045 Joined:Mar 2005	Message Posted: Mar 13, 2010 12:24:42 AM Ignore TBONE3 Report Abuse That's a lot of exploration.
lindact Champion Author New Haven Posts:3,819 Points:750,290 Joined:May 2008	Message Posted: Mar 13, 2010 12:23:56 AM Ignore lindact Report Abuse U.S. oil companies will bid and we will pay for it.
rxman1 Champion Author Toledo Posts:4,148 Points:870,055 Joined:Nov 2007	Message Posted: Mar 13, 2010 12:20:16 AM Ignore rxman1 Report Abuse With today's market, this will probably make prices go up.
RockCity Champion Author Denver Posts:2,550 Points:454,570 Joined:Mar 2009	Message Posted: Mar 13, 2010 12:19:23 AM Ignore RockCity Report Abuse So, being a do badder is good?
CobraLeader Champion Author New Jersey Posts:235,164 Points:1,097,075 Joined:Apr 2007	Message Posted: Mar 13, 2010 12:17:02 AM Ignore CobraLeader Report Abuse ... JettaKnight: T one's for you! - - - > "TO THE EGRESS!" ...
CobraLeader Champion Author New Jersey Posts:235,164 Points:1,097,075 Joined:Apr 2007	Message Posted: Mar 13, 2010 12:14:47 AM Ignore CobraLeader Report Abuse ... What was Gabon doing before opening 42 blocks for exploration? ...
JettaKnight All-Star Author Toronto Posts:964 Points:1,269,340 Joined:Nov 2005	Message Posted: Mar 13, 2010 12:12:51 AM Ignore JettaKnight Report Abuse graceman Baltimore "The more gas on the market the lower the price will be!!" P.T. Barnum did say that there's one born every minute.
OnTheWater All-Star Author Orange County Posts:551 Points:181,520 Joined:Nov 2009	Message Posted: Mar 13, 2010 12:08:38 AM Ignore OnTheWater Report Abuse Hugh??
Gas_Buzzer Champion Author South Carolina Posts:9,294 Points:1,665,430 Joined:Sep 2005	Message Posted: Mar 13, 2010 12:06:44 AM Ignore Gas_Buzzer Report Abuse I thought this was some kind of monkey.
PhilMils Champion Author Virginia Posts:1,931 Points:414,150 Joined:Dec 2008	Message Posted: Mar 13, 2010 12:06:21 AM Ignore PhilMils Report Abuse Won't do much for anyone but a few.
dbatw Champion Author St. Louis Posts:1,547 Points:314,440 Joined:Apr 2009	Message Posted: Mar 12, 2010 11:54:35 PM Ignore dbatw Report Abuse oh yeah, drill, drill, drill and feed the African dictator's lust for the good things in life...
ItsMorph Champion Author Grand Rapids Posts:26,479 Points:2,171,385 Joined:Mar 2004	Message Posted: Mar 12, 2010 11:53:58 PM Ignore ItsMorph Report Abuse Bus561: nah. We're being smart by hoarding.
Muke Champion Author Virginia Beach Posts:2,773 Points:703,810 Joined:Jun 2007	Message Posted: Mar 12, 2010 11:53:33 PM Ignore Muke Report Abuse They do no SIERRA CLUB and environmental related people blocking explorartion etc.
Bus561 Champion Author Lexington Posts:11,289 Points:2,204,000 Joined:May 2004	Message Posted: Mar 12, 2010 11:47:56 PM Ignore Bus561 Report Abuse And we have the most oil underground and the most capped wells with oil still in them, why? Tree huggers and do gooders is the reason why.
katiejayWV Champion Author West Virginia Posts:1,117 Points:345,695 Joined:Nov 2008	Message Posted: Mar 12, 2010 11:41:40 PM Ignore katiejayWV Report Abuse The whole world is drilling except for the United States.
jjw0608 Champion Author Milwaukee Posts:3,327 Points:991,045 Joined:Nov 2005	Message Posted: Mar 12, 2010 11:39:49 PM Ignore jjw0608 Report Abuse WHO?
MiniFan Champion Author California Posts:1,633 Points:549,750 Joined:Nov 2008	Message Posted: Mar 12, 2010 11:38:28 PM Ignore MiniFan Report Abuse is this going to help our gas prices?
hank1326 Champion Author Los Angeles Posts:3,902 Points:733,600 Joined:Jun 2008	Message Posted: Mar 12, 2010 11:33:14 PM Ignore hank1326 Report Abuse We must explore all domestic energy options before it is too late.
graceman Champion Author Baltimore Posts:1,182 Points:410,725 Joined:Jun 2008	Message Posted: Mar 12, 2010 11:31:55 PM Ignore graceman Report Abuse The more gas on the market the lower the price will be!!
Art48 Champion Author Sacramento Posts:2,338 Points:75,285 Joined:Feb 2009	Message Posted: Mar 12, 2010 11:30:33 PM Ignore Art48 Report Abuse toadNY - Nice try, but one had nothing to do with the other. In fact the declines were cause by a drop in demand, not lifting the ban on offshore drilling.
toadNY Champion Author Albany Posts:1,513 Points:506,425 Joined:Apr 2008	Message Posted: Mar 12, 2010 11:17:27 PM Ignore toadNY Report Abuse $147.00 when Bush dropped band on off shore drilling, remember? oil dropped to $32.00, obumer puts band back on, oil goes up. Pay Back. Join the AMERICAN REVOLUTION to VOTE ALL INCUMBENTS OUT in 2010 & obumer in 2012 & the rest of congress in 2014 for real change if it not to late. Death Care an crap & trade will KILL THIS COUNTRY.
ILANGE9 Champion Author Illinois Posts:2,339 Points:584,880 Joined:Sep 2008	Message Posted: Mar 12, 2010 11:08:16 PM Ignore ILANGE9 Report Abuse More resources in the hands of corrupt third world dictators.
goodbuy Champion Author Michigan Posts:3,003 Points:504,885 Joined:May 2005	Message Posted: Mar 12, 2010 10:57:27 PM Ignore goodbuy Report Abuse Drill baby drill!!
oldiesman Champion Author New York Posts:1,466 Points:1,225,335 Joined:May 2006	Message Posted: Mar 12, 2010 10:57:23 PM Ignore oldiesman Report Abuse There's plenty of oil there and they want in on the action.
Art48 Champion Author Sacramento Posts:2,338 Points:75,285 Joined:Feb 2009	Message Posted: Mar 12, 2010 10:55:24 PM Ignore Art48 Report Abuse Jeff4U - Earthquakes are caused by giant worms, dontcha know. Haven't you seen "Tremors"?
mstearno Champion Author Dayton Posts:3,471 Points:760,885 Joined:Jan 2008	Message Posted: Mar 12, 2010 10:52:00 PM Ignore mstearno Report Abuse Jeff4u I agree, but the world is made up of idiots, sucking oil out of the ground causing earthquakes in Chile?????? I farted a few minutes ago, maybe it's raining in England because of the carbon output?
Art48 Champion Author Sacramento Posts:2,338 Points:75,285 Joined:Feb 2009	Message Posted: Mar 12, 2010 10:50:07 PM Ignore Art48 Report Abuse DellMan - You know as a fact there is enough oil in the Midwest and off shore to keep the US self sufficient? That "Big" oil shale find in Montana and Wyoming, the Bakken Formation, is only 2 - 20% recoverable and not nearly enough to make a dent into our yearly import of crude oil. It's total capacity doesn't equal what we use in one year. I haven't heard of a find in the Midwest that even comes close to it. Is this something that is being hidden. [Edited by: Art48 at 3/12/2010 10:51:16 PM EST]
pitamon Champion Author Philadelphia Posts:2,377 Points:1,190,400 Joined:Sep 2004	Message Posted: Mar 12, 2010 10:46:10 PM Ignore pitamon Report Abuse So how much will that bring to them? Do they think that will make them a new power house? How about rebels?
Jeff4U Champion Author Atlanta Posts:3,086 Points:843,800 Joined:Nov 2004	Message Posted: Mar 12, 2010 10:39:30 PM Ignore Jeff4U Report Abuse chequenman; that's the most ridiculous statement imaginable! Do yourself a favor: never apply for a job related to geothermal science.
DABEE1073 Champion Author San Diego Posts:2,788 Points:558,910 Joined:Jun 2008	Message Posted: Mar 12, 2010 10:38:46 PM Ignore DABEE1073 Report Abuse WHAT WILL THIS BE COSTING THE AMERICAN TAXPAYER?????
chequenman Rookie Author Ontario Posts:68 Points:61,475 Joined:Oct 2008	Message Posted: Mar 12, 2010 10:35:01 PM Ignore chequenman Report Abuse If we continue to suck all this Oil out of the ground, there's a good reason why we're having all these major earthquakes when the Earth has to re-group.....
Jeff4U Champion Author Atlanta Posts:3,086 Points:843,800 Joined:Nov 2004	Message Posted: Mar 12, 2010 10:34:10 PM Ignore Jeff4U Report Abuse More area for the militants to sabotage.
OGW Champion Author London Posts:1,200 Points:635,490 Joined:Sep 2005	Message Posted: Mar 12, 2010 10:34:09 PM Ignore OGW Report Abuse They keep saying it is running out but they sure seem to have ideas where there is more of it.
smoketown Champion Author Cincinnati Posts:2,880 Points:597,260 Joined:Feb 2008	Message Posted: Mar 12, 2010 10:31:56 PM Ignore smoketown Report Abuse Government can keep their nose's out of it.........
cutter1330 Champion Author Oklahoma Posts:2,936 Points:682,260 Joined:Jul 2005	Message Posted: Mar 12, 2010 10:31:36 PM Ignore cutter1330 Report Abuse Exploring for new sources is a good thing.
DellDude2 Champion Author Nashville Posts:3,794 Points:1,113,085 Joined:Aug 2005	Message Posted: Mar 12, 2010 10:30:13 PM Ignore DellDude2 Report Abuse Lot's of unexplored oil out there, just waiting for someone to tap into it.
mrbee All-Star Author Little Rock Posts:548 Points:1,492,710 Joined:Oct 2005	Message Posted: Mar 12, 2010 10:28:42 PM Ignore mrbee Report Abuse Obama. Let us drill!
Sneakers55 Champion Author Houston Posts:31,151 Points:1,258,670 Joined:Nov 2005	Message Posted: Mar 12, 2010 10:25:03 PM Ignore Sneakers55 Report Abuse afghaned wrote: >Revolting seems to be the largest sport in Africa. I thought it was spamming 419 scams.
lightbulbman2008 Champion Author Worcester Posts:41,325 Points:615,685 Joined:Oct 2008	Message Posted: Mar 12, 2010 10:16:08 PM Ignore lightbulbman2008 Report Abuse NO AFFECT ON PUMP PRICES HERE!!!!!
vegaland Champion Author Houston Posts:2,314 Points:484,790 Joined:May 2006	Message Posted: Mar 12, 2010 10:06:52 PM Ignore vegaland Report Abuse How stable is that government?
rollma2 All-Star Author Montreal Posts:534 Points:131,355 Joined:Jul 2009	Message Posted: Mar 12, 2010 10:02:03 PM Ignore rollma2 Report Abuse interesting
judgemobile Champion Author Ohio Posts:2,593 Points:1,452,925 Joined:Nov 2005	Message Posted: Mar 12, 2010 9:53:00 PM Ignore judgemobile Report Abuse so did anyone tell O'Bummer ? We wonder why oil is now over 82 a barrel when a year ago it was about 32. Liberal incompetence !!!