Gabon

Candidate country Gabon EITI website Overview of the Extractive Industries Gabon has been a major oil producer for many decades. Historically, oil revenues accounted for approximately 60% of the government's budget, more than 40% of GDP, and 75% of export earnings. Despite holding Sub-Saharan Africa's third largest oil reserves, oil preeminence in Gabon's economy is expected to decline due to maturing oil fields. Gabon has reformed its legislation to provide incentives for exploration and development, a measure which has attracted new players. Gabon is also the third largest producer of manganese and holds a quarter of the world's known reserves of this mineral. Manganese is Gabon's third-largest source of export earnings after oil and timber. Gabon is considered a potential source of other minerals, but commercial exploitation has not started. Status of EITI Implementation Gabon was accepted as an EITI Candidate Country on 27 September 2007.On 8 March 2010 Gabon applied to extend their deadline for completing EITI Validation. The EITI Board agreed to grant Gabon an extension. Peter Eigen sent a letter to the President conveying the Board's decision. Gabon has until 9 September 2010 to submit a final Validation report to the EITI Board. On 28 July 2004, Paul Toungui, Minister of Economy, Finance, and Budget of Gabon informed the World Bank of his country's commitment to adhere to the EITI, and requested technical assistance for its implementation. On 24 February 2005, the EITI Work Group was created by ministerial decree. The Government proposed September 2005 as the deadline for publication of extractive industry data under the EITI framework. In March 2005, the Government expressed its commitment to join the EITI in a letter of intent to the IMF. In December 2005, the Government of Gabon published its first EITI report, which covers information from 2004. However, this report did not provide information on the Government's share of profit oil, which according to estimates might be as much as half of total oil revenue. The Government of Gabon published its second EITI report on its website in April 2007. The third EITI report was published in March 2008. More companies are now reporting in the oil and mining sectors. The accounting gap has decreased to around 3%. Gabon started the validation mission on 16 November 2009.On 9 July 2010, Gabon submitted a final Validation report to the Board. Governance of EITI implementation The EITI Interest Group (the national committee) is the multi-stakeholder group in charge of implementation and follow-up of the EITI in Gabon. Mr. Ange Macaire Longho is the National Coordinator. Gabon EITI National Coordinator Mr Ange Macaire LonghoPresident of the EITI Interest Groupamlongho [at] yahoo [dot] frTel. +(241)06 10 66 79 / +(241) 07 13 70 91  Companies operating* Oil & gas companies: Hess Corp*, Shell*, TOTAL*, Marathon*, Petronas, Sasol, Sinopec, Maurel & Prom, Tullow Oil, Vanco Energy.Mining companies: Vale*, Codelco (Chile), Comilog, Sinosteel, SouthernEra Diamonds* EITI Supporting Company * Note: Company list based on EITI research and is not conclusive Further information about the status of EITI implementation in Gabon can be provided by Regional Director Tim Bittiger at the EITI International Secretariat.