Equatorial Guinea launching oil and gas bid round

Equatorial Guinea

MALABO, February 13, 2025 – Following a six-year hiatus, the government of Equatorial Guinea is holding an offshore-focused oil and gas bid round, international media reported on Wednesday.

The round will be held by the country’s Ministry of Mines and Hydrocarbons and NOC GEPetrol.

It will operate under the model of an “open-door policy” with direct negotiations with the government, according to the the application guidelines.

Companies are invited to submit bids “at any time.”

The acreage on offer includes:

• Appraisal/development opportunities in the Niger Delta offshore
• Exploration areas in the Douala Basin (offshore)
• Exploration areas in the Rio Muni Basin (onshore and offshore)
• Frontier exploration acreage surrounding Annobon (offshore)

Equatorial Guinea’s proven crude oil reserves are estimated at around 1.1 billion barrels, with current production averaging approximately 92,000 barrels per day. Natural gas production is around 6.75 bcm, and the reserves stand at 39 bcm, primarily utilized for domestic power generation and export as LNG. Major fields include Zafiro, Alba, and Aseng, which contribute significantly to the country’s hydrocarbons output.

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