Mercedes Eworo Milam, director-general of hydrocarbons at the Ministry of Mines, Industry and Energy (MMIE), talks to TOGY about how low oil prices have influenced the…
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 MOREAs the oil and gas industry took off in Equatorial Guinea, the government needed a tool to ensure that international companies became active in the socioeconomic…
READ MOREUK exploration company Ophir announced on Thursday that it awarded two front-end engineering and design contracts (FEED) for the Fortuna project off the coast of…
READ MORENigeria’s Shoreline Group plans to sell $2 billion in bonds to purchase oil and gas assets in Africa.
CEO Kola Karim told Bloomberg that the group is eyeing…
READ MOREIn order to increase the efficiency of the 24-MW Bata thermal power station, the Ministry of Mines, Industry and Energy has devised a gasification project that will…
READ MOREThe general director for the Extractive Industry Transparency Initiative (EITI) at the Ministry of Mines, Industry and Energy, César A. Hinestrosa Gómez, talks to…
READ MOREBioko Island’s location in the Gulf of Guinea offers significant potential for Equatorial Guinea to serve central and western Africa as a hub for storage, aviation…
READ MORELondon-headquartered Golar LNG will build, operate and maintain a floating gas liquefaction and storage vessel for Ophir Energy’s operations in offshore block R in…
READ MOREBioko Island’s proximity to Cameroon, Nigeria, Gabon and Ghana presents an opportunity to develop the island into a logistical centre for the region’s oil and gas…
READ MOREOn Friday, Australian consulting services company WorleyParsons was awarded the provision of engineering and project management services by Ophir Equatorial Guinea, the…
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