Press Release: Brace Signs MoU with Gabon Oil Marketing for Pipeline Development
Today, June 06, 2017, Gabon Oil Marketing (GOM), a subsidiary of Gabon Oil Company (GOC) and Brace Energy, an African-based integrated oil and gas services company, signed a Memorandum of Understanding (MoU) concerning the evaluation, pre-study, and feasibility of a refined products pipeline linking Port Gentil and Libreville. The MoU also covers advisory, supervisory and managerial support to be provided by Brace Energy to the GOM.
In 2016, GOM was charged with ensuring the supply of petroleum products to the Gabonese Republic, and in a bid to improve downstream logistics and manage costs, GOM embarked on a study to review the possibility of building a pipeline between the refinery in Port Gentil and the main import depot in the capital Libreville.
The MoU, was therefore signed as the first major step in realizing further efficiencies, and envisages deeper discussions aimed at Brace Energy's potential technical advisory and support in the project. The project is intended to cover a proposed route of approximately 250km.
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