Exxon signs a deal with Gabon to conduct oil and gas exploration

Exxon Mobil (XOM.N), which opens a new tab, announced on Wednesday that it and the Gabonan government had inked an agreement to search for gas and oil off the coast of the central African nation.

The memorandum of understanding, a non-binding deal, signifies an expansion of the top U.S. oil major’s involvement in Africa. The corporation decided to leave Equatorial Guinea in 2022, but it still operates in Nigeria, Angola, and Mozambique.

Exxon will collaborate with the Gabonese government to investigate deepwater and ultra-deepwater offshore regions for gas and oil, according to a statement from the corporation.

Exxon made its first visit to Trinidad and Tobago in over two decades in August when it signed a deal to explore deepwater regions.