Sunday, October 22, 2017

Gabon sets oil quota on foreign workers

October 4, 2010 by  
Filed under Oil News

Gabon’s government has agreed to trade union demands to limit the number of foreign workers in its oil sector to 10% and requires that all executive posts be held by Gabonese.

News wires – Legislation to implement the limits will be finalised by the end of the year, said oil sector union ONEP spokesman Arnaud Engandji, adding oil companies in the central African state would have two years to adjust to the 10% limit and six months for what he called the “gabonisation” of all executive positions.

Engandji said an accord on the limits was signed Friday by Oil Minister Julien Nkoghe Bekale, Labour Minister Maxime Nozo Issondou and ONEP Secretary-General Guy-Roger Aurat Reteno.

The deal averts the risk of a strike in Africa’s seventh largest crude producer, one of the few in sub-Saharan Africa to have launched a Eurobond.

Gabon produced about 250,000 barrels of oil per day in 2008, according to US Energy Information Administration data. Foreign investors include Shell, Total, Tullow Oil, Canadian Natural Resources and many others.

A recent report estimated that foreign workers held 1893 of the total 8,590 staff in the sector, with Gabonese holding just 17% of executive posts.

Oil accounts for around half of Gabon’s $14.5 billion per year economy, a dependence it is trying to reduce through an economic diversification programme, reported Reuters.

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