Assala Energy CEO Edgar Mba Ognane Nguema: “We Are the Engine Driving Gabon’s Oil Industry Forward”
One year after Gabon’s state acquisition of Assala Energy, CEO Edgar Mba Ognane Nguema breaks his silence with an unfiltered assessment of the company’s performance, governance strategy, and exploration plans in this exclusive GabonReview interview.
State of Operations: Maintaining Excellence Under National Ownership
When asked about Assala Energy’s operational capabilities following the state acquisition, Nguema responded unequivocally: “The oil infrastructure remains highly performant. Since the transition, we’ve maintained excellent production control with motivated, mobilized teams. In environmental management and HSE standards, we’re actually leading the industry.”
The CEO emphasized that contrary to skepticism about state ownership, “the company is doing very well. Many predicted collapse after the government takeover, but one year later, the results prove otherwise.”
Key Performance Indicators
Nguema highlighted two critical metrics demonstrating Assala’s continued success:
- Economic Contribution: “Assala’s contribution to the national economy meets or slightly exceeds the five-year average prior to acquisition.”
- Production Stability: Maintaining approximately 52,000 barrels per day despite natural decline rates in mature fields.
Governance Transition: From International to National Leadership
Addressing concerns about the departure of international management, Nguema explained: “While some London-based executives chose to leave, there was no strategic vacuum. We promoted internal talent who had worked alongside them and made targeted external hires where needed.”
The company established an integrated senior management team combining London and Gabon leadership. “All strategies and budgets presented to shareholders are developed by this team,” Nguema noted, adding that recruitment continues methodically rather than hastily.
Production and Investment Strategy
Countering reports of production declines, the CEO stated: “Assala’s output remains on budget and aligned with investments.” He acknowledged the heavy financing requirements of mature fields but emphasized the company’s self-sufficiency:
“Under GOC ownership, we no longer rely on external borrowing. Our operational quality and results enable self-financing – a strategic decision by our shareholder that demands financial discipline.”
Exploration: Balancing Risk and National Interest
Nguema provided candid insights about exploration efforts:
- N’gongui Field: Scheduled to begin production in early 2025 as the first new field under the Fifth Republic
- Rabunga-A and Rossignol A: While no oil was found, data collected will refine future exploration models
- Success Rate: At 20% (1 discovery per 5 wells drilled), exceeding global industry averages
“A company that doesn’t explore is doomed,” Nguema asserted. “As the national operator, we must lead by example in searching for new reserves to counter national production declines.”
Workforce Stability and Social Dialogue
The CEO acknowledged initial employee concerns during the transition: “There were tensions and uncertainties about becoming a state-owned enterprise.” However, he emphasized current stability through:
- Monthly meetings with worker representatives
- Recent establishment of new delegate committees
- Ongoing constructive dialogue with labor inspectors
“While we may not always agree, the social climate at Assala is now very healthy,” Nguema concluded. “This is inseparable from our operational performance.”