In an exclusive from the book Equatorial Guinea: A History of Oil, produced for the MMIE in partnership with Centurion Law Firm we look at Zafiro field northwest of…
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 MOREToday, the government of Equatorial Guinea ratified a production sharing contract (PSC) with ExxonMobil for Block EG-06. The block is offshore Bioko Island and close to…
READ MOREWallace Trew, the district manager of Nalco Champion in Equatorial Guinea, tells TOGY about the ins and outs of the oilfield chemicals market in Equatorial Guinea and…
READ MOREBaker Hughes managing director for Nigeria and Equatorial Guinea Ayo Shote discusses the impact of domestic operators on the industry and evolving business practices in…
READ MOREOverseeing Equatorial Guinea’s oil and gas industry, the Ministry of Mines, Industry and Energy (MMIE) is responsible for almost 90 percent of the country’s…
READ MOREIn 2013, Luba Oil Terminal Equatorial Guinea (LOTEG) increased its gasoil sales to exploration companies for drilling campaigns by more than 200 percent over its 2011…
READ MOREThe government of Equatorial Guinea has announced its plans to establish an integrated petrochemicals complex in Riaba on Bioko Island.
In May, the Ministry of…
READ MOREThe director of national content at the Ministry of Mines, Industry and Energy (MMIE), Augustin Mba Okomo, discusses the directive’s work in making domestic companies…
READ MOREThe Ministry of Energy and Petroleum of Ghana said on Friday that the country is completing an agreement to source gas from Equatorial Guinea to power its thermal…
READ MOREThe energy ministers of Côte d’Ivoire, Equatorial Guinea and Ghana met last week in the Ivorian capital Abidjan to sign a memorandum of understanding for creating a…
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