London-headquartered energy company Ophir awarded the Dutch firm Fugro a survey services development contract on November 30 for its large-scale floating LNG…
READ MOREEquatorial Guinea's Energy Industry
in figures
Oil reserves1.1 billion barrels
Oil production161,000 bpd
Gas reserves42.5 bcm
Gas production4.57 bcm
Equatorial Guinea: A Doorway to West Africa
Equatorial Guinea’s oil and gas industry rose dramatically in importance after large discoveries were first made in 1996. Since then, development of its hydrocarbons resources has accelerated and now makes up around 60% of the country’s GDP. Despite a land area of just 28,000 square kilometres, the nation holds some of the largest oil and gas reserves on the continent, which drove it to become a member of OPEC in 2017. E&P activities are overseen by the Ministry of Mines and Hydrocarbons, which hands out PSCs and regulates activities.
The majority of the country’s oil and gas production and export come from the offshore Zafiro field on Block B, operated by ExxonMobil. on the Gulf of Guinea, close to the country’s border with Nigeria. The development is supported by several FPSOs that have been juggled on the block since it began production in 1996. Further exploration activities are required to balance the nation’s falling reserves.
Equatorial Guinea is seeking foreign investment to make the nation a trade hub for gas in the region, including with Cameroon and Nigeria. The Gas Mega Hub initiative set down by the government looks to develop and expand onshore processing infrastructure, with additional hubs throughout the region to offtake gas from stranded reserves on the country’s borders. Although the country of 1.4 billion has continued to make efforts to diversify its economy beyond hydrocarbons-based revenues, commercialisation and fiscal challenges remain its key hurdles.
Panoro Energy has secured the Noble Venturer drillship for a campaign in Equatorial Guinea's offshore Block G.
READ MOREPetrofac has been awarded a contract valued at around USD 350 million by Equatorial Guinea's NOC, GEPetrol.
READ MOREPanoro Energy has reached an agreement with the government of Equatorial Guinea for the award of offshore Block EG-23.
READ MOREVaalco Energy has received final approval from the government of Equatorial Guinea to develop offshore Block P.
READ MOREAngola is modernising its logistics network in a move to diversify its economy and capitalise on its geographical location.
READ MORETiago Ferreira of TLC Angola talks about the company’s evolving operations in Angola’s energy sector.
READ MOREEquatorial Guinea’s Ministry of Mines, Industry and Energy today announced a new bidding round in 2016 will offer all of its remaining deepwater and ultra-deepwater…
READ MOREPatricia Gallego, the newly appointed managing director of Equatorial Guinea LNG (EG LNG), talks to TOGY about the role of international companies in strengthening…
READ MOREThe superintendent of G3 Oil and Gas, André Crusius, speaks to TOGY about the development approach for the company’s block EG-01. G3 Oil and Gas is a Brazilian…
READ MOREAgustín Mba Okomo, secretary-general of Equatorial Guinea’s Ministry of Mines, Industry and Energy (MMIE), speaks to TOGY about the development of the Regulation for…
READ MOREUS energy company RoyalGate announced plans to drill a new well in Equatorial Guinea’s offshore block Z near Bioko Island.
“We are proud to announce the drilling…
READ MOREAlfred Kasongo, Ecobank’s general director, explains the advantages of working in an emerging market, the regional monetary union and the potential of collaborative…
READ MOREAs oil production dwindles, Equatorial Guinea’s gas resources are set to become the country’s primary source of income and development. Juan Antonio Ndong Ondo, the…
READ MOREEquatorial Guinea’s offshore hydrocarbons industry has been developing continually, with five new blocks expected to be awarded by the end of 2015. Minister of Mines,…
READ MORESantiago Edu Ela, director of the Petrochemicals Revolution of Equatorial Guinea (REPEGE) project at the Ministry of Mines, Industry and Energy, explains the role of…
READ MOREWHOSE PLATFORM IS THIS?
ASK US
- Do you have a question for The Energy Year about oil and gas?
- If we know, we’ll tell you.
- If not, we’ll ask the experts in the field.