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Equatorial Guinea Overview

Equatorial Guinea

in figures

Oil Reserves1.1 billion barrels

Oil Production199,000 bpd

Gas Reserves145 bcm

Gas Production10 bcm

Equatorial Guinea: A Doorway to West Africa

Equatorial Guinea is among the largest oil producers in Africa, with an output of 280,000 bopd in 2016. Oil and gas exports have been central to the country’s growth and are expected to continue driving the economy going forward as it diversifies along the oil and gas value chain. As of 2016, the country has estimated reserves of 1.1 billion barrels of oil. The domestic oil and gas industry is relatively young. Large oil reserves were first discovered in 1996. Within a decade, Equatorial Guinea’s oil production rose from 17,000 bopd in 1996 to a record 375,000 bopd in 2005. Additional development of existing oil and gas deposits continues along with new exploration and development in other offshore concessions.

Low oil prices have affected the local industry, slowing or halting several operations. Still, Equatorial Guinea is moving forward. In June 2017, the Ministry of Mines awarded several blocks to the winners of the Ronda 2016 licensing round, and ExxonMobil struck oil in the Avestruz-1 well in Block EG-06 in December 2017. Ophir Energy and its partners are expected to announce the final investment decision for the Fortuna FLNG project in 2018.

Besides investing in the further development of its upstream sector, Equatorial Guinea looks to benefit from its geographical location and facilities, becoming a regional energy hub. Facilities such as the Bioko Oil Terminal, Luba Freeport and REPEGE project will bring the country closer to realising these aspirations.

Panoro to buy Tullow’s Gabon, EG assets
NEWS
Gabon - February 10, 2021

Panoro Energy has signed a deal to acquire Tullow Oil’s offshore oilfield stakes in Gabon and Equatorial Guinea for up to USD…

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Pierre BENICHOU
Interview
Morocco - November 03, 2020

Pierre Benichou, executive chairman of Geoex MCG, talks to The Energy Year about hydrocarbons potential in Morocco and other…

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Equatorial Guinea books

More books
NJ Ayuk
Interview
South Africa - August 11, 2020

NJ Ayuk, president of the Africa Energy Chamber (AEC) and CEO of Centurion Law Group, talks to The Energy Year about how the…

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RoyalGate gets Equatorial Guinea block extension
NEWS
Equatorial Guinea - January 29, 2019

RoyalGate Energy has extended its licence for Block Z offshore Equatorial Guinea for an unspecified period of time, the…

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Equatorial Guinea maps

Equatorial Guinea Oil & Gas Licensing Blocks 2016

ALL MAPS
Ophir to leave key EG block
NEWS
Equatorial Guinea - January 07, 2019

The Ministry of Mines and Hydrocarbons of Equatorial Guinea has decided not to extend Ophir Energy’s licence for Block R after…

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Diekola ONAOLAPO, Managing Director of ECZELLON CAPITAL
Interview
Nigeria -

Diekola Onaolapo, the managing director of Eczellon Capital, talks to TOGY about alternative finance methods being implemented…

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Vaalco, IOCs prepare Equatorial Guinea push
NEWS
Equatorial Guinea - November 08, 2018

Equatorial Guinea is among the largest oil producers in Africa, with an output of 280,000 bopd in 2016. Oil and gas exports have been central to the country’s growth…

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Mohamed HAJI, CEO of ROTAN POWER
Interview
Ghana - November 2, 2018

TOGY talks to Mohamed Haji, the CEO of Rotan Power, about the need for power in the Ghanaian market, the legal framework in the country and its natural gas network.…

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Interview
Equatorial Guinea - October 8, 2018

Nabil Beers, managing director of Akon Logistics Management, talks to TOGY about challenges and opportunities in Equatorial Guinea’s logistics sector, how the…

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Interview
Equatorial Guinea - September 20, 2018

Nicolás Nguema Bibang Nzang, general director of Sociedad de Electricidad de Guinea Ecuatorial (SEGESA), talks to TOGY about how the company’s new developments will…

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