Decree No. 1017 created the National Hydrocarbons Company of Gabon (SNHG – Société Nationale des Hydrocarbures du Gabon), also known as the Gabon Oil Company (GOC).
The National Hydrocarbons Company of Gabon was created to strengthen the role of the state in the field of hydrocarbons. It streamlined state participation in upstream and downstream petroleum activities.
The SNHG is mandated to hold, manage and take shares on behalf of the state, directly or indirectly, in all upstream and downstream petroleum activities. It also holds governmental shares in hydrocarbons deposits and in the capital of companies holding agreements and production sharing contracts.
The decree places SNHG under the technical supervision of the Ministry of Hydrocarbons and under the financial supervision of the Ministry of Finance.